Dogecoin maintains appreciation after logo on Twitter – 04/04/2023 – Market
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The price of a cryptocurrency promoted by tycoon Elon Musk rose more than 20% this Tuesday (4) after Twitter changed its logo from a blue bird to a dog, associated with this digital currency.
Musk promotes the dogecoin cryptocurrency, which has a Shiba Inu dog as its logo.
Dogecoin went from under $0.08 (about R$0.40 at current values) to over $0.10 (about R$0.50 at current values) immediately after the new logo appeared on Twitter .
In May 2021, Musk tweeted that his company Tesla might start using dogecoin, sparking a buying craze in cryptocurrency markets.
Twitter did not clarify whether this logo change is temporary or permanent.
Musk bought Twitter in October last year for US$ 44 billion (R$ 235.1 billion) and carried out a profound reorganization of the platform, first with mass layoffs and later with revelations about decisions to censor content and account cancellations that were taken over by the previous management.
On the other hand, Musk faces a lawsuit worth US$ 258 billion (R$ 1.3 trillion in current values) filed by an investor, who guarantees that he lost a large amount of money by investing in dogecoin.
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