Twitter Changes Logo to Shiba Inu Dog Image, Dogecoin (DOGE) Soars 35%

Twitter has changed the logo on the social media platform's website from the iconic blue bird to an image of a Shiba Inu dog associated with the dogecoin cryptocurrency.

Elon Musk has changed the logo on Twitter's website to an image of a Shiba Inu dog, which is associated with the dogecoin cryptocurrency.

The price of dogecoin soared 35% in the past 24 hours, now at $0.09 per token, according to data from Coingecko.

Musk followed up the development with a tweet suggesting the change was "as promised."

The Tesla (TSLA) and Twitter CEO has been a vocal proponent of dogecoin, arguing that the meme-based cryptocurrency could outstrip bitcoin in terms of payment capabilities.

Musk is currently facing a $258bn lawsuit, which alleges he operated a pyramid scheme to promote dogecoin.

Last week, Musk's lawyers asked a US court to dismiss the dogecoin lawsuit.

As promised pic.twitter.com/Jc1TnAqxAV

— Elon Musk (@elonmusk) April 3, 2023

The latest dogecoin development at Twitter HQ has fuelled persistent rumours that Musk is planning to integrate dogecoin payments into the social media platform.

However, the rumours have not been substantiated beyond Musk's suggestion that the platform could accept dogecoin for Twitter Blue subscriptions.

Around a year ago, Musk said there could be "an option to pay in doge," when discussing the potential for Twitter Blue subscriptions.

Maybe even an option to pay in Doge?

— Elon Musk (@elonmusk) April 10, 2022

Twitter has previously shown an interest in incorporating web3 innovations. During the tenure of Twitter founder Jack Dorsey, the social media platform planned to support authentication for NFTs, or non-fungible tokens, which are digital assets like images or videos that exist on a blockchain.

Dogecoin was created in 2013 by two software engineers as a lighthearted project. Its name pays homage to the "doge" meme that gained popularity about a decade ago.

Read more: Binance investors withdraw more than $2bn after US regulators' action on crypto exchange

The memecoin's logo features a shiba inu — a Japanese breed of dog — surrounded by comic sans text in broken English.

The global cryptocurrency market cap was $1.22tn on Tuesday, up 1.4% in the past 24 hours, according to Coingeck data.

Bitcoin rose 0.8% to stand at $28,135, and ethereum (ETH-USD), the second largest cryptocurrency by market cap, was at $1,821, up 1.5% in the past day.

Watch: Polygon to 'overtake Ethereum in terms of economic activity,' claims co-founder | The Crypto Mile

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