Bitcoin rises to high end of recent range; Dogecoin extends .. Why did Elon Musk change the Twitter logo to Dogecoin?
Musk has not explained why the Twitter home button is now a doge image. But in recent days, news broke that Musk and his lawyers are seeking to dismiss a lawsuit filed by dogecoin investors who claim that Musk drove up the cryptocurrency’s price and then let it crash, according to Reuters. The lawsuit cites Musk’s “hustle” remark on SNL.
The plaintiffs are demanding $258 billion in damages, as Musk’s lawyers argue the lawsuit is a “fanciful work of fiction.”
On Monday, Musk tweeted a meme referencing the icon change.
The doge meme began with a 2010 photo of a Japanese shiba inu named Kabosu, who was rescued from a dog shelter and whose owner was surprised when her dog’s image went viral. Other shiba inu images have appeared in doge memes, but Kabosu is arguably the most famous. The shiba inu is sometimes overlaid with ironic interior monologues in comic sans font, as the website KnowYourMeme points out, or photoshopped to take on different forms, such as a loaf of bread.
The doge meme became even more recognizable when software engineer Billy Markus and Jackson Palmer created the dogecoin in 2013 as a bitcoin parody. Markus told CNBC that he created the cryptocurrency in “about two hours.”
“The crypto community can be pretty elitist and not very inclusive, and we wanted to make a community that was more fun, lighthearted and inclusive,” Markus added.
Later on Monday he tweeted a reference to an earlier Twitter conversation in which he mused about buying the platform and changing its bird logo to doge. “As promised,” Musk tweeted with a screenshot of the chat.
