Dogecoin Twitter Logo News: Twitter’s new logo avatar is now the most popular memecoin Dogecoin (DOGE). Amid all the regulatory scrutiny around cryptocurrencies, this move from the Elon Musk company could mean many positive outcomes for the crypto market. Dogecoin being the new Twitter logo could mean a huge validation for the crypto space as this will act as a huge promotional event. Also, this would only reinforce Musk’s affiliation with not just DOGE but also the cryptocurrency space.
However, it is not clear as to whether this is a temporary move by the Twitter management. This means if the new logo is taken down, the Dogecoin price could take a hit. Also, the logo change will bring back to the forefront the rumors about Twitter integrating crypto for its payments usage.
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Social media platform Twitter on Monday updated its website to that of Dogecoin picture. This led to an instant DOGE price pump by over 21%. As was seen in earlier instances when Elon Musk openly mentioned the memecoin in his tweets, Dogecoin price could perhaps witness a prolonged rally with this move. However, this could turn out to be a short lived rally for the world’s largest meme crypto if the Twitter logo is reinstated to its original. The Dogecoin team reacted to this news:
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After the Tesla CEO acquired the platform on October 27, 2022, the memecoin’s price rallied steadily only to be hit by the FTX collapse in early November 2022. Last week, Musk filed his reply against allegations of running a pyramid scheme to support Dogecoin. Citing that Musk’s tweets were only to show support, the billionaire’s lawyers argued that such posts are not unlawful. This is particularly the case considering the memecoin’s market cap of $10 billion, they said. Musk sought the dismissal of the complaint from the court. In a latest, Musk shared a meme in his tweet about the DOGE Twitter logo:
