On Monday , Twitter surprised users by replacing their well-known bird logo with an image of a dog associated with Dogecoin cryptocurrency . The image , which features a Japanese dog breed called Shiba Inu , is part of the Dogecoin logo . Dogecoin was created in 2013 as a playful way to make fun of other digital currencies like Bitcoin .

Elon Musk , who purchased Twitter for $44 billion last year is a big fan of the Doge meme and has promoted Dogecoin on Twitter and during his hosting of ” Saturday Night Live . ”

When Twitter changed its web logo to feature the Dogecoin dog on Monday , the value of Dogecoin went up by more than 20% .

Elon Musk , who is currently the second – richest person in the world , posted a tweet on Monday to explain why the Doge logo was featured on Twitter . He shared a screenshot of a conversation he had in March 2022 with a Twitter user called @WSBChairman , as he had promised to do .

replaced ?

Before Elon Musk successfully bought Twitter , he tweeted in March 2022 , asking what should be done about Twitter failing to adhere to free speech principles , which undermines democracy .

Elon Musk replaced Twitter profile picture

 A Twitter user named @WSBChairman replied , suggesting Musk should buy Twitter and change the bird logo to a doge . Musk found the idea funny and responded positively .

Elon Musk is facing a lawsuit in the U . S  District Court for the Southern District of New York , where he is accused of promoting Dogecoin as part of a racketeering scheme . The plaintiffs are seeking $ 258 billion in damages and are pointing to Musk’s appearance on ” Saturday Night Live ” as evidence . Musk’s legal team has filed a motion to dismiss the lawsuit .

Elon Musk’s lawyers argue that the plaintiffs in the lawsuit have not provided evidence of how Musk’s support for Dogecoin has defrauded anyone or hidden any risks from investors . They also claim that it is legal to express support for a legitimate cryptocurrency like Dogecoin , which has a market cap of nearly $10 billion . Musk’s legal team has requested the court to dismiss the lawsuit .

By sushil

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