Elon Musk Replaced Twitter Logo With Dogecoin, And Accused For Doing That To Help Pay Twitter's Debt

Elon Musk took the world by surprise when he changed Twitter's iconic Larry the Bird logo with a Shiba lnu dog, the logo of the much-discussed cryptocurrency, Dogecoin.

Musk who owns Twitter, has long been a fan of this particular cryptocurrency, and certainly, the change is good news for fans of the cryptocurrency, as the price for the coin spiked to as high as 30% in a matter of minutes. Dogecoin went from $0.077 to $0.10 in 30 minutes, becoming the eighth-most valuable cryptocurrency, with a market cap of over $13 billion.

Dogecoin was created as a joke, a parody cryptocurrency based on a viral internet meme of a Shiba Inu dog. At first, the cryptocurrency project was created purely as a mockery of other cryptocurrency projects that were being launched at the time.

And as for Musk, he has been joking about the coin for years.

This move has made the #DogeToTheMoon hashtag become trending again on Twitter.

It all began back in 2021, when Elon Musk who was yet to buy Twitter, said that Dogecoin should be the cryptocurrency on the Moon.

Since Musk also leads SpaceX, he said that DOGE is going to the moon using the DOGE-1, a 40 kilogram CubeSats satellite. To do this, the company said that it has partnered with a cryptocurrency exchange and Geometric Energy Consumption (GEC) to fund this mission through Dogecoins, according to media reports.

Following this, DOGE recovered from its sinking price, and recorded a 1.37% increase.

Dogecoin fans are literally pleased with this.

Not only that their favorite coin is skyrocketing in price, because the announcement also promised them a satellite by SpaceX that would go further than any other existing CubeSats.

Whereas more than a thousand of CubeSats have been launched to Low Earth Orbit at the time, DOGE-1 would orbit the Moon.

The serial entrepreneur made those bullish statements about Dogecoin and Bitcoin during the time the cryptocurrency market was falling in general.

He said that Bitcoin "will make it" and "DOGE to the moon."

Amid cryptocurrency winter and the chaos, Musk believed that there is a future for Bitcoin, and Dogecoin, and also Ethereum.

In 2023, none of what he promised about Dogecoin happened. But the moment cemented Musk's distinctive relationship with the brand over the years.

Ever since the SpaceX and Tesla CEO tweeted things about the coin, they often served as a way to push up the coin's value.

Musk has long been a supporter of the meme cryptocurrency.

In fact, he is sometimes known by the DOGE community as the "Dogefather."

The billionaire previously revealed that he owns some Dogecoins and will keep buying and supporting the meme cryptocurrency, because he believes Dogecoin "has potential as a currency."

Tesla, the company Musk also owns, accepts Dogecoin for some merchandise. Musk also said that he wants SpaceX to do the same. His Boring Company also accepts the meme coin for some rides.

Dogecoin rose more than 20% when Musk announced that.

Then, in January 2022, when Musk announced on Twitter that Dogecoin payments were live, the cryptocurrency jumped as much as 15%.

And by changing Twitter's logo to Dogecoin, the cryptocurrency is again having a huge boost.

Musk confirmed his move of changing the logo in his style - by tweeting a meme about it while also taking a dig at the U.S. SEC.

Musk also tweeted a screenshot of an old chat and said, "As promised."

The thing is, Twitter is in debt.

Musk was already cutting costs by laying off employees and removing a lot of office perks. And to many people who knew this, think that Musk is only promoting Dogecoin to help Twitter.

The logo swap comes days after attorneys for Twitter and Musk asked a federal judge to toss out a $258 billion lawsuit from 2022 that accused the billionaire of manipulating dogecoin’s price and driving it up over 36,000 per cent.