Dogecoin, the beloved cryptocurrency that started as a joke, has once again set the crypto world ablaze with its soaring price, skyrocketing by 26% in the past 24 hours.
The man responsible for this market mayhem? None other than the billionaire entrepreneur and Twitter’s very own hype-man, Elon Musk.
Musk has long been an advocate for the Shiba Inu-themed digital currency, but what did he do this time to cause such a significant spike in Dogecoin’s value?
Could it be another tweet, or did he unveil a groundbreaking development for the crypto community?
What Set Dogecoin Ablaze?
On a seemingly ordinary Monday, Twitter users were in for a surprise when they noticed a new furry face had taken over the platform’s blue bird logo and loading screen. It was none other than the beloved Shiba Inu, the mascot of the popular meme-inspired cryptocurrency.
And just like clockwork, the Dogefather himself tweeted a meme acknowledging the change. This tweet would set off a chain reaction that would send Dogecoin’s value soaring.
— Elon Musk (@elonmusk) April 3, 2023
The official Dogecoin account couldn’t resist adding its two cents to the conversation, coming up with a response that was pure comedic gold: “Very currency. Wow. Much Coin. How Money. So Crypto.”
Very currency
Wow
Much Coin
How Money
So Crypto pic.twitter.com/hw6H2OOn33— Dogecoin (@dogecoin) April 3, 2023
As of writing, the current DOGE price stands at $0.0984, according to CoinMarketCap, with a 26.19% increase in the last 24 hours alone. But that’s not all, as the cryptocurrency has seen a remarkable 29% increase over the past seven days and an impressive 35.54% rally over the last 30 days.
Source: CoinMarketCap
Twitter CEO Elon Musk. Photo by Theo Wargo/WireImage
Elon Musk Strikes Back With Dogecoin Logo Amidst $258 Billion Lawsuit
The war between Musk and Dogecoin investors has reached a fever pitch, with the latest move coming in the form of a logo change on the social media platform.
Just two days after Musk asked a judge to dismiss a massive $258 billion racketeering lawsuit, accusing him of supporting the meme coin with a pyramid scheme, the platform’s blue bird logo was replaced with the adorable Shiba Inu associated with Dogecoin.
DOGE total market cap now at $13.5 billion on the daily chart at TradingView.com
The lawsuit, which Musk and Tesla’s lawyers have called a “fanciful work of fiction,” accuses the tech mogul of using his Twitter account to manipulate Dogecoin’s value through his “often silly tweets.”
However, with the Dogefather’s track record of unpredictability and penchant for trolling, no one knows for sure what’s next in this high-stakes battle.
Will Dogecoin’s value continue to soar, or will the lawsuit ultimately prove victorious? One thing’s for certain: the battle lines have been drawn, and the stakes have never been higher.
-Featured image from Fireintheholee1/Twitter