Dogecoin Soars 35% After Twitter Replaces Its Logo With Shiba Inu

04 Apr 2023

Dogecoin (DOGE) surged more than 35% after Elon Musk's Twitter replaced the social-media platform's familiar blue bird atop its homepage with the cryptocurrency's iconic Shiba Inu dog logo, Yahoo Finance reports.

DOGE got as high as $0.1046 versus around $0.077 right before the logo change. Before Monday, its price last exceeded 10 cents in December, according to CoinDesk data.Musk has frequently touted DOGE, suggesting the meme coin may offer better payments functionality than bitcoin (BTC). In January the Financial Times reported that Twitter was designing a system to permit payments through the social-media platform. While Musk, who is the CEO, wanted Twitter "first and foremost" to be for fiat currencies, he sought the ability to add cryptocurrencies – a story that gave the price of DOGE a lift.