New Delhi (India), 4th April 2023: After Twitter CEO Elon Musk changed the blue bird logo on his company’s website to the Shiba Inu logo, the mascot of the digital currency, Dogecoin’s worth increased by over 30% on April 4.
Software engineers Billy Markus and Jackson Palmer made the well-known doge picture as the Dogecoin cryptocurrency’s logo as a joke in 2013 to mock the irrational speculation in cryptocurrencies at the time.
The blue bird logo that once adorned the home icon in the upper left corner of the Twitter web browser was abruptly changed to a cartoon of the “Shiba Inu,” the subject of the Doge meme.
It’s interesting to note that the new logo is only apparent on Twitter’s online browser and not on the app available on smartphones.
On April 1, Elon Musk requested that a US court dismiss a $258 billion racketeering lawsuit against him that accused him of operating a pyramid scheme to support the cryptocurrency Dogecoin.
The lawsuit brought by Dogecoin investors over Musk’s “innocent and frequently silly tweets” about Dogecoin was dubbed a “fanciful work of fiction” by lawyers for Musk and his electric car business Tesla Inc. in an evening filing in Manhattan federal court.
According to the lawyers, the investors never explained how Musk intended to defraud anyone or what risks he hid, and his statements like “Dogecoin Rulz” and “no highs, no lows, only Doge” were too ambiguous to serve as evidence of fraud.
Musk’s lawyers said, “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…This court should put a stop to plaintiffs’ fantasy and dismiss the complaint.”
