Today, Twitter users have noticed a prominent addition of a dog image on the platform. If you visit Twitter.com, you will see a shiba inu, which corresponds to the logo of dogecoin, a blockchain and cryptocurrency.
Usually, changing or adding an icon on an app is not considered news. However, this time, the inclusion of the dog image has resulted in a surge in the value of dogecoin. This is because social media users, including cryptocurrency investors, have interpreted the update as a sign of endorsement from Twitter. Consequently, the update has led to a pump in the market.
The price of dogecoin has risen significantly since the dog’s inclusion, and currently stands at around $12.4 billion. This event comes amid a lawsuit involving Elon Musk, the owner of Twitter, over dogecoin. His lawyers have referred to it as a “legitimate cryptocurrency” with a market cap of nearly $10 billion. The recent update to the Twitter app could be part of Musk’s broader strategy in the ongoing 258 Billion legal battle.
It appears that the cryptocurrency market may be on the rise once again, as the value of dogecoin surges. Is the bird coming back? Why?
By Dave Van Zandt
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