Tech entrepreneur Elon Musk fondly recalled his notorious resolution to briefly swap the Twitter brand for the Dogecoin DOGE/USD meme, a transfer that triggered a big surge within the meme coin’s worth. Musk later renamed Twitter “X.”
What Occurred: On Saturday, Musk responded to a submit on X from “DogeDesigner” who introduced up the memorable occasion from two years prior. He wrote, “That was superior.”
In April 2023, Musk had momentarily changed the Twitter brand with the well-known Doge meme, the inspiration behind the unique meme cryptocurrency DOGE, and its unofficial mascot.
Additionally Learn: Elon Musk Responds To Benzinga Report: ‘Heaps Of’ SpaceX, Tesla Employees Personal Dogecoin; He Doesn’t Personal Floki, Shiba Inu
The brand change, which was in place for roughly per week, resulted in a considerable rise in DOGE’s value. The meme coin’s worth elevated by practically 8%, adopted by a swift further 30% achieve.
This was perceived by the Dogecoin group as Musk’s try to include his favored meme coin DOGE into Twitter.
Why It Issues: Musk’s playful antics on Twitter have typically had a big influence on cryptocurrency markets, significantly DOGE.
His resolution to switch the Twitter brand with the Doge meme not solely demonstrated his affect on social media but in addition highlighted the unstable nature of meme cash and their susceptibility to exterior components.
This occasion serves as a reminder of the facility of high-profile people in shaping market tendencies and the potential for social media platforms to affect cryptocurrency values.
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