Dogecoin Surges More Than 30% After Token’s Symbol Replaces Blue Bird as Twitter Logo
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Stephen Alpher is CoinDesk’s co-regional news chief, Americas. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
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Dogecoin (DOGE) surged more than 30% in minutes after Elon Musk’s Twitter replaced the social-media platform’s familiar blue bird atop its homepage with the cryptocurrency’s iconic Shiba Inu dog logo.
DOGE got as high as 11 cents from around 8 cents before the logo change. Its price last exceeded 10 cents in December, according to CoinDesk data.
DOGE spikes (CoinDesk)
Musk has frequently touted DOGE, suggesting the meme coin may offer better payments functionality than bitcoin (BTC). In January the Financial Times reported that Twitter was designing a system to permit payments through the social-media platform. While Musk, who is the CEO, wanted Twitter “first and foremost” to be for fiat currencies, he sought the ability to add cryptocurrencies – a story that gave the price of DOGE a lift.
UPDATE (April 3, 2023, 18:09 UTC): Updates prices and adds historical price information.
UPDATE: (April 3, 2023, 18:33 UTC): Updates price and adds Financial Times story from January.
Edited by James Rubin and Nick Baker.
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Stephen Alpher is CoinDesk’s co-regional news chief, Americas. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
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Stephen Alpher is CoinDesk’s co-regional news chief, Americas. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
