Musk replaces Twitter's bird with Dogecoin, sparks controversy

By Al Mayadeen English
Source: Agencies
4 Apr 2023 15:11

Tesla's chief is known for his unusual stunts without giving a direct reason.

Representations of the cryptocurrency Dogecoin seen in this illustration taken June 16, 2022 (Reuters)

Twitter users were in for a surprise on Monday after the social media giant's owner billionaire Elon Musk decided to change the iconic blue bird logo and replace it with the Dogecoin cryptocurrency meme dog.

Despite Musk not offering an explanation, random guesses and debates took over the app as to why he changed the logo, with some saying it's an April Fools' joke and others arguing that this is probably one of his stunts just for kicks.

The official Dogecoin responded to the change in a tweet: “Very currency. Wow. Much Coin. How Money. So Crypto.”

Musk's move comes days after he issued a petition to a US court to dismiss a $258 billion lawsuit filed against him by Dogecoin investors over claims that he lured them into a pyramid scheme despite knowing that the cryptocurrency had no value.

“Musk used his pedestal as world’s richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement,” the complaint reportedly stated.

pic.twitter.com/wmN5WxUhfQ
— Elon Musk (@elonmusk) April 3, 2023

The plaintiffs reportedly complained the sell-off of Dogecoin began when Musk appeared on Saturday Night Live and referred to Dogecoin as a “hustle” in a segment.

According to the investors, the value of Dogecoin sharply fell after Musk called it a "hustle" while appearing on a talk show.

His lawyers have called the allegations a “fanciful work of fiction” over the billionaire's “innocuous and often silly tweets” about the meme coin.

After Musk announced last year that Tesla will start accepting merchandise payments with Dogecoin, its value went up the roof. Following the logo change, it recorded its highest value since November 2022, jumping from $0.079 to $0.094.

SpaceX's chief tweeted a screenshot from March revealing the origin of the idea, hinting that it was not his.