Dogecoin skyrockets 30% as Twitter changes logo to doge meme on web

Whether or not a change in social networking site Twitter’s logo to the "doge" meme from the popular "blue bird" boded well with its users, it certainly did so for the Dogecoin cryptocurrency, whose value has risen by up to 30%.

The Doge image is well known as the logo of the Dogecoin cryptocurrency, which was created as a joke by software engineers Billy Markus and Jackson Palmer in 2013, to poke fun of the wild cryptocurrency speculation at the time.

The home button at the top left of Twitter's web browser used to have a Blue Bird logo, but overnight, it was replaced with a cartoon "Shiba Inu," the face of the Doge meme.

In late trading on Monday, Dogecoin rose as high as 10.2 cents from around 7.7 cents after the change. The cryptocurrency is currently trading up 26% at 9.8 cents.

In the past, Musk has expressed his support for dogecoin and has even been involved in a legal battle over it, according to reports.

Interestingly, the logo change is only visible on Twitter's web browser, not on the app.

Twitter has seen swift changes ever since it was acquired by Elon Musk in October of last year. The logo change comes days after Twitter began making changes to its verification system.

Some of the so-called legacy verification accounts, like the New York Times, have seen their verification marks removed. Others kept their checks and noted they were Blue subscribers or old verified accounts, Bloomberg reported.

Although there was no official communication, Twitter CEO Elon Musk shared a screenshot of the conversation between him and the anonymous account in March last year, in which the latter requested that the bird logo be changed to a "doge".

Musk shared the post on Twitter and wrote: "As promised."

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