The preferred meme asset available on the market is coming again all the way down to Earth as billionaire Elon Musk reverts Twitter’s brand again to its iconic blue fowl.
Twitter’s return to its conventional brand despatched Dogecoin (DOGE) crashing after it mounted a 30% rally earlier this week as a result of chief government utilizing DOGE’s brand 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Beforehand, after altering his picture to incorporate DOGE, Musk referenced one in all his outdated tweets from earlier than this buy of Twitter the place he joked with others about altering Twitter’s brand to that of Dogecoin.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 at present in the course 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 ought to be thrown out as his tweets about DOGE through the years had been memes or jokes and that Dogecoin is a legit asset with a multi-billion-dollar market cap.
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