Musk changes Twitter logo to ‘meme dog’

PARIS: A meme-inspired cryptocurrency’s price jumped on Tuesday after Elon Musk changed the bluebird logo of Twitter to a dog associated with the digital token, despite the mogul being sued over his previous promotion of the coin. Musk bought Twitter in October last year for $44 billion and has since slashed the workforce, introduced paid-for accounts and reinstated banned users including former president Donald Trump.

His decision to change the logo to a Shibu Inu dog, whether permanent or another short-lived joke, caused the price of dogecoin to surge by more than 20 percent, from below $0.08 to more than $0.10. The Twitter chief has 133 million followers and has long used the platform for self-promotion and humor, occasionally also promoting dogecoin, a highly volatile cryptocurrency initially created as a joke.

He is being sued for $258 billion by an investor who claims he lost massive amounts of money because of Musk’s activities, though the billionaire has dismissed those claims. The Shiba Inu dog became a popular meme in 2013 when posters on forums like Reddit and 4chan began using pictures of the Japanese dog breed alongside messages written in broken English. The cryptocurrency was launched as a joke later that year and remained largely without value for years—like thousands of other coins.

However, in May 2021 its value briefly spiked to a record $0.73 after Musk suggested his auto firm Tesla could begin to accept it as payment. The value quickly slumped and investors have accused Musk of manipulating the value of the token to make a quick profit, known as a “pump and dump”. Musk has said he is committed to crypto and that he pumps but does not dump.

The logo change prompted a slew of messages featuring the meme dog—not least from Musk, who tweeted out a conversation with a follower from last year where he had promised to buy Twitter and make the Shiba Inu its logo. However, some users were more cynical. “Why do I get the feeling the Doge icon was added so when you search ‘Elon’ and ‘Doge’ the story of his racketeering lawsuit will be buried,” tweeted comedian Jesse McLaren. – AFP

more recommended stories

Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.