The Dogecoin “doge” replaced For just three days, Twitter’s mascot.
Following Twitter’s decision to drop the Dogecoin mascot from its website branding on April 6, the price of Dogecoin (DOGE) dropped by 6.5%.
Dogecoin is Down Slightly
DOGE was worth 9.1 cents on April 6 at 8:45 p.m. UTC, just before Twitter changed its logo back to its standard bird. Its price dropped to as little as 8.5 cents in less than 30 minutes. Even though prices have slightly increased, this change still represents a loss of about 6.5%.
Not all of Dogecoin’s recently gained value has been lost. The asset saw a 30% price increase and went from 7.7 cents to 10.1 cents on Monday when it became the Twitter logo. It then reached its peak on Tuesday at 10.2 cents. The value of DOGE at 12:30 a.m. is 8.6 cents, despite the fact that it has currently lost most of its gains. on April 7 at 00:00 UTC.
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DOGE is on a gradual downward trend nonetheless, as can be seen in price charts:
Dogecoin Ends Three-day Run as Logo
On April 3, Twitter, which is currently controlled by Tesla CEO Elon Musk, first replaced its logo with Dogecoin’s Shiba Inu mascot. The modification appeared to be limited to Twitter’s website and did not affect the platform’s mobile app.
Although there has long been speculation that Twitter might somehow incorporate the cryptocurrency, the business made no plans to do so this week.
Instead, Musk revealed that he pulled the stunt to fulfill a “promise” to Twitter influencer WSBChairman suggested in March 2022 that Musk purchase the social media company and alter the logo to a Shiba Inu dog. “That would [be] sick,” Musk responded in writing.
Due to the fact that Musk’s decision to alter the logo was made two days after April Fools Day, it raised more questions and sparked debate.
Before the incident, there was a debate over Musk’s effect on Dogecoin prices. In fact, the CEO of Tesla and Twitter is presently attempting to have a $258 billion lawsuit against him dismissed on the grounds that his dealings with cryptocurrencies amount to a racketeering scheme.
