Many eagle-eyed Twitter fans noticed Monday that the social media platform’s default blue bird icon had been replaced by the ever-popular Doge meme.
The illustration of the Shiba Inu dog, which has become the unofficial symbol for the Musk-backed cryptocurrency Dogecoin, appeared to appear randomly, though Musk tweeted an explanation by referencing an exchange he had with a user before he took to Twitter last year. bought.
Related: Tesla subpoenaed by the SEC (again) over Elon Musk’s tweets
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 is accused of market manipulation for tweeting about various stocks and meme coins, seemed to have moved the needle again for Dogecoin, which skyrocketed 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. At the same time, Dogecoin rose by just under 33% in a seven-day period.
Related: Dogecoin Cocreator Calls Elon Musk a ‘Grifter’ Who Had Trouble Running Base Code
The decision to change the logo may not have been entirely random CNBC reported over the weekend that Musk and his team have filed a lawsuit via his Tweets accusing the billionaire of running a “pyramid scheme” to boost and deplete Dogecoin’s valuation.
“There is nothing illegal about tweeting supportive words or funny pictures about a legit cryptocurrency that still has a market cap of nearly $10 billion,” Musk’s lawyers stated, according to the outlet. “This court must put an end 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 fueling Tesla’s stock after tweeting that he had “secured funding” to take the company out of business. to get a scholarship.
A jury found Musk not liable for the losses earlier this year, for which Musk said he was “very grateful.”