Dogecoin Is On Cloud Nine; Credit Goes To Twitter’s New Logo!

For ages, Twitter's logo was a tiny blue bird but today, it's all about the dog - and not any dog - it's The Shiba Inu, to be precise.

(Who let the doge out? Well, Twitter did!)

Jokes apart, Twitter's latest update has caused a stir among cryptocurrency investors, as an image of a Shiba Inu dog, the logo of the Dogecoin cryptocurrency, appeared on the social media platform. The inclusion of the dog as the logo has led to a surge in the value of Dogecoin. It is because the cryptocurrency was created as a light-hearted take on Bitcoin, featuring the popular internet sensation meme of a Shiba Inu dog. #WaitWhat

However, the rise in Dogecoin's value has not been without controversy. According to the report, the lawsuit alleges that Musk pumped up the coin's price by 36,000% over two years and was instrumental when the price crashed. #ButTheresABackStory


It all began when in 2021, Musk called Dogecoin a "hustle" on a late-night comedy show, causing the price to drop by 43%. This was not the last time his tweets affected the price of the cryptocurrency. Musk's lawyers have called the multi-billion lawsuit filed against him a work of fiction and innocuous tweets from Musk do not constitute fraud. In 2022, Keith Johnson, a dogecoin investor, filed a lawsuit against Elon Musk for artificially inflating the price and called the cryptocurrency a 'pyramid scheme'. #EnoughOfTheThrowback

"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," Musk's lawyers said. "This court should put a stop to plaintiffs' fantasy and dismiss the complaint." #AllSaidAndDone


The controversy surrounding Dogecoin’s price and Musk's involvement highlights the ongoing debate over the legitimacy and value of cryptocurrencies. While some investors see cryptocurrencies like Dogecoin as a legitimate investment opportunity, others are skeptical and warn of the risks involved.

Nevertheless, as the debate continues, it remains to be seen whether Dogecoin will continue to rise in value or fall victim to the volatility that has characterized the cryptocurrency market in recent years.