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Doge Spikes 20%+ as Iconic Shiba Inu Replaces Twitter's Bird
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This Monday, Twitter users found that the app stopped displaying the platform’s signature bird in the upper left corner, and were instead greeted with a picture of a Shiba Inu dog.
As a result, dogecoin’s price started skyrocketing and was up more than 20% standing just under one dollar at the time of writing.
This isn’t the first time Elon Musk, who acquired the platform late in 2022, is boosting the price of the coin.
Late in 2020, he tweeted “One word: Doge” causing the then-fringe coin to soar in value.
Similarly, Floki, Doge, and Bonk, other dog-themed coins, soared after Musk posted an image of his dog photoshopped to the role of Twitter’s CEO.
Musk’s tweets have also been known to affect the price of larger cryptocurrencies. In 2021, after he announced Tesla would no longer be accepting Bitcoin, the world’s largest cryptocurrency quickly fell by about 10%.
This article originally appeared on The Tokenist
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