Dogecoin Soars After Twitter Replaces Its Blue Bird Logo With the Token's Dog

In the past Twitter CEO Elon Musk has shown himself to be a fan of the meme coin.

AccessTimeIconApr 3, 2023 at 5:55 p.m. UTC
Updated Apr 4, 2023 at 6:13 p.m. UTC

Dogecoin (DOGE) surged more than 35% 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 $0.1046 versus around $0.077 right before the logo change. Before Monday, its price last exceeded 10 cents in December, according to CoinDesk data.

DOGE soars (CoinDesk)
DOGE soars (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.

A bit more than an hour after the logo change, Musk tweeted out a cartoon image as his first public comment.

UPDATE (April 3, 2023, 18:09 UTC): Updates prices and adds historical price information.

UPDATE: (April 3, 2023, 18:33 UTC): Updates prices and adds Financial Times story from January.

UPDATE: (April 3, 2023, 19:02 UTC): Adds tweet from Elon Musk.

UPDATE (April 3, 2023, 19:47 UTC): Updates prices.

Edited by James Rubin and Nick Baker.


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Stephen  Alpher

Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.