- Dogecoin surged minutes after Musk replaced the Twitter logo with the Dogecoin mascot.
- Not everyone was happy with the move, especially Musk’s critics.
- There’s no indication that Twitter will integrate Dogecoin any time soon.
Musk’s latest Twitter stunt took everyone by surprise, but not everyone was as amused by it. On Monday, the tech CEO replaced the Twitter logo on Twitter’s main page and loading screen with the Dogecoin mascot.
Just 10 minutes after the change, Dogecoin was up 20%. Musk, who is also the CEO of Tesla and SpaceX, did not comment on the change. However, his critics did.
Musk’s Critics Took Shots at the “New” Logo
While Dogecoin holders celebrated, Musk’s critics took the opportunity to take shots at the tech CEO. Some users speculated that the Doge Twitter logo was an April fool’s joke that took longer than expected to roll out.
Other users made fun of the logo’s formatting. Apparently, the person posting the logo neglected to cut out a segment of the coin’s rim around the original Dogecoin logo.
Other users suggested a more nefarious motive for the change. Some critics said that Musk might have made the change to divert attention from his Dogecoin racketeering lawsuit. The $258 billion lawsuit accuses Musk of running a pyramid scheme in favor of the memecoin. On Sunday, Musk’s lawyers called the lawsuit a “work of fiction,” and asked a federal judge to throw it out.
What is Behind Musk’s Renewed Interest In Dogecoin?
Musk has made relatively few public statements about Dogecoin in recent years, after constantly tweeting about the token throughout 2021. This has made both critics and supporters alike ask what is behind Musk’s sudden renewal of interest in the memecoin.
Musk’s Twitter takeover created some positive momentum for the memecoin. Dogecoin traders have speculated that Musk might use his position to integrate Dogecoin into the platform. Rumors of Musk integrating Dogecoin into a proposed peer-to-peer payment system on Twitter even made the rounds. Others suggested that Musk might enable users to pay for their Twitter subscription with crypto, including Dogecoin.
There is currently no indication that these types of integrations could become a reality anytime soon.
On the Flipside
- Since his Twitter takeover, Musk has become an increasingly polarizing figure. It is important to take his claims, as well as those of his critics, with a grain of salt.
- After the recent layoffs, Twitter is short on staff. This means that adding new features, including Dogecoin integration, is less likely.
Why You Should Care
Dogecoin traders should follow anything that happens on Twitter closely, as Musk still has a strong effect on the memecoin.
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Source link: https://dailycoin.com/dogecoin-surges-after-elon-musks-latest-twitter-stunt/
