Some users thought the logo change was part of an April Fool’s prank by the Twitter CEO
Twitter’s official mascot is a bird that features in the company’s logo.
According to a tweet by co-founder Biz Stone, the logo is called ‘Larry the Bird’ as a tribute to NBA player Larry Bird.
However, since Elon Musk took over Twitter, he has made several changes the most recent being the logo.
— Elon Musk (@elonmusk) April 3, 2023
Now, in place of Larry the Bird, is a dog that is the shiba inu image of the cryptocurrency Doge.
Why Musk Changed the Twitter Logo
Like some other decisions the Twitter Chief Executive Officer has taken, he has not given a direct reason for the change.
However, he shared a screenshot of a conversation he had on Twitter with the account @WSBChairman.
The account had replied to a tweet from Mr Musk telling him to buy Twitter and change the bird logo to a Doge.
Musk shared the conversation with a caption, “As promised”.
As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023
Market Impact
Mr Musk’s decision to change the logo to the Doge logo, whether permanent or short-lived, has impacted the cryptocurrency market.
The change has caused the price of dogecoin to surge by more than 25%.
The price went from below $0.08 to more than $0.10.
With his over $133 million followers, Mr Musk promotes humour, and occasionally also promotes dogecoin.
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The cryptocurrency is a highly volatile cryptocurrency initially created as a joke.
In 2022, the value of the cryptocurrency jumped after Musk announced that Tesla merchandise could be bought using it.
On Twitter’s logo change, Dogecoin’s value jump is the highest value the currency has been since November last year.
