Many eagle-eyed Twitter fans noticed on Monday that the social media platform’s standard blue bird icon had been swapped out for the ever-popular Doge meme.
The illustration of the Shiba Inu dog, which has become the unofficial symbol for the Musk-backed cryptocurrency Dogecoin, seemed to appear randomly, though Musk Tweeted an explanation by referencing an exchange he had with a user before he purchased Twitter last year.
A look at the Twitter home screen for users as of Tuesday afternoon.
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The user @WSBChairman joked with Musk that he should just “buy Twitter” and “change the bird logo to a doge” after Musk asked his followers at the time if a “new platform was needed.”
As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023
Musk, who’s been accused of market manipulation for Tweeting about various stocks and meme coins, seemed to have moved the needle once again for Dogecoin, which skyrocketed an estimated 20% yesterday after the logo change.
As of Tuesday afternoon, Doge still appeared in place of the bird logo on the social media platform. Dogecoin was up just under 33% in a seven-day period at the same time.
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The decision to change the logo might not have been completely random, as CNBC reported over the weekend that Musk and his team filed to dismiss a lawsuit that accuses the billionaire of running a “pyramid scheme” to pump up and deplete the Dogecoin valuation via his Tweets.
“There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion,” Musk’s lawyers stated, per the outlet. “This court should put a stop to plaintiffs’ fantasy and dismiss the complaint.”
Musk was part of another Twitter-related class action lawsuit last summer, when he was accused by shareholders of being responsible for tanking the Tesla stock after Tweeting that he had “funding secured” to take the company private.
A jury found Musk not liable for the losses earlier this year, for which Musk said he was “deeply appreciative.”