The most well-liked meme asset in the marketplace is coming again right down to Earth as billionaire Elon Musk reverts Twitter’s emblem again to its iconic blue fowl.
Twitter’s return to its conventional emblem despatched Dogecoin (DOGE) crashing after it mounted a 30% rally earlier this week because of the chief govt utilizing DOGE’s emblem because the Twitter icon.
Dogecoin is buying and selling for $0.0821 at time of writing, an 8.7% dip over the last 24 hours and a 19.5% lower from its seven-day excessive of $0.102 set on April third.
Beforehand, after altering his photograph to incorporate DOGE, Musk referenced certainly one of his outdated tweets from earlier than this buy of Twitter the place he joked with others about altering Twitter’s emblem to that of Dogecoin. Citing the tweet, Musk says the change got here “as promised.”
Musk, who has a historical past of endorsing the dog-themed meme token, is presently in the midst of a authorized battle over allegedly illegally driving up the value of the asset over the span of two years after which letting it crash.
Nevertheless, Musk’s attorneys contend that the lawsuit needs to be thrown out as his tweets about DOGE through the years have been memes or jokes and that Dogecoin is a reputable asset with a multi-billion-dollar market cap.
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