Many eagle-eyed Twitter followers observed on Monday that the social media platform’s commonplace blue chicken icon had been swapped out for the ever-popular Doge meme.
The illustration of the Shiba Inu canine, which has turn into the unofficial image for the Musk-backed cryptocurrency Dogecoin, appeared to seem randomly, although Musk Tweeted an evidence by referencing an trade he had with a consumer earlier than he bought Twitter final yr.
A take a look at the Twitter house display for customers as of Tuesday afternoon.
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The consumer @WSBChairman joked with Musk that he ought to simply “purchase Twitter” and “change the chicken emblem to a doge” after Musk requested his followers on the time if a “new platform was wanted.”
As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023
Musk, who’s been accused of market manipulation for Tweeting about numerous shares and meme cash, appeared to have moved the needle as soon as once more for Dogecoin, which skyrocketed an estimated 20% yesterday after the brand change.
As of Tuesday afternoon, Doge nonetheless appeared instead of the chicken emblem on the social media platform. Dogecoin was up just below 33% in a seven-day interval on the identical time.
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The choice to vary the brand won’t have been fully random, as CNBC reported over the weekend that Musk and his crew filed to dismiss a lawsuit that accuses the billionaire of working a “pyramid scheme” to pump up and deplete the Dogecoin valuation through his Tweets.
“There may be nothing illegal about tweeting phrases of help for, or humorous footage about, a official cryptocurrency that continues to carry a market cap of practically $10 billion,” Musk’s legal professionals said, per the outlet. “This court docket ought to put a cease to plaintiffs’ fantasy and dismiss the grievance.”
Musk was a part of one other Twitter-related class motion lawsuit final summer season, when he was accused by shareholders of being answerable for tanking the Tesla inventory after Tweeting that he had “funding secured” to take the corporate personal.
A jury discovered Musk not answerable for the losses earlier this yr, for which Musk mentioned he was “deeply appreciative.”
