Goodbye Blue Bird: Elon Musk’s “X” Move Leads to a Rise in DOGE Price Rally

  • Today, after Elon Musk changed the Twitter logo to “X,” he also changed the Twitter location to “XÐ.”
  • This event coincides with the spread of rumors that Twitter is considering accepting Dogecoin as payment.
  • Binance CEO Changpeng Zhao expressed surprise that Dogecoin has not disappeared and speculated that Musk’s joke currency may have contributed to its continuous existence.

Twitter’s blue bird is gone: Elon Musk’s change of Twitter logo to X and the Dogecoin detail caught the attention of the community.

Elon Musk Changed Twitter’s Logo to “X”

elon-musk

Elon Musk has long been supporting cryptocurrencies, especially Dogecoin (DOGE). It is unknown how his tweets and statements have influenced the price of DOGE. Today, immediately after Musk changed the Twitter logo to “X,” he also changed the Twitter location to “XÐ.” Here, “X” represents Twitter’s new logo and “Д represents the symbol of Dogecoin.

It is unknown why Musk decided to update the Twitter location to include the Dogecoin symbol. However, it is more likely that he is trying to express his support for cryptocurrencies. This event coincides with the spread of rumors that Twitter is considering accepting Dogecoin as payment.

Crypto players also recognize Musk’s contribution to the success of Dogecoin during this period. For example, Binance CEO Changpeng Zhao expressed surprise that Dogecoin has not disappeared and speculated that Musk’s joke currency may have contributed to its continuous existence.

Especially after Musk announced a new financial structure for the social media site, there are more rumors about Dogecoin possibly taking on a new role in the Twitter ecosystem.

DOGE Price Showed a Rapid Rise

Dogecoin (DOGE)

As expected, after the logo change and location update, the price of Dogecoin entered a strong bull run. At the time of writing, it is trading at $0.0740, with a 4.36% increase in one day. Dogecoin maintains its position as the largest meme coin by market capitalization and occasionally exhibits signs of renewed interest.

The meme-based cryptocurrency became the eighth largest cryptocurrency after adding more than $1 billion to its market value this week. This rapid increase in market value raised Dogecoin’s market value to over $10 billion in just one week, with an increase of over 6%.

While speaking at the Wall Street Journal CEO Council Summit, Musk explained why this joke currency is his favorite cryptocurrency. Musk said his interest in Dogecoin is more related to its humorous side rather than its potential in the cryptocurrency market.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin (BTC) is “Super Cheap” at $69k: Adam Back Rejects Post-Halving Crash Predictions

Legendary cypherpunk and Blockstream CEO Adam Back offers a contrarian view on Bitcoin's price action. Get expert insights on market sentiment, halving predictions, and BTC's long-term value potential.

Ethereum’s Pectra Upgrade: Enhanced UX, Wallet Innovation, and Community Debate (ETH)

The Ethereum Pectora upgrade promises a revolution in wallet functionality. Get insights on the debate surrounding its groundbreaking features and their potential impact on the Ethereum ecosystem.

Bitcoin (BTC) Price Retreats Amid Gold’s Record Surge; Analysts Eye Re-accumulation Phase

Find out why Bitcoin's momentum stalled as gold soared to new highs. Explore expert insights on BTC's price trajectory and the significance of re-accumulation patterns.

Litecoin (LTC) Surges in Popularity, Surpassing 5 Million Long-Term Holders

Discover the reasons behind Litecoin's surge in popularity and why investors are increasingly choosing LTC for long-term holdings. Get insights into the future potential of this established cryptocurrency.

Bitcoin Nears Bullish Breakout – Pi Cycle Top Metric Hints at Potential Price Surge

Get the latest insights on Bitcoin's price action, the significance of the Pi Cycle Top metric, and expert predictions for potential price movements.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Bitcoin BTC’s Path to Recovery: Will the Upcoming Halving Trigger a Rise Above $71,400?

This analysis delves into Bitcoin's immediate future as it approaches a critical halving event, exploring potential movements above key resistance levels.

Bitcoin (BTC) Surges Past $70k: Could $75k be the Next Target?

Bitcoin (BTC) has made a decisive move above $70,000, indicating bullish momentum. This article delves into the factors driving the surge, technical analysis, and what investors should watch for in the near term.

NEO Launches Uptrend to $25! Current NEO Analysis

Analyzed NEO's 3-hour chart, showing upward trend post $14.80 resistance breakthrough, eyeing $15.18 resistance; potential long positions suggested at $14.636 - $14.448 support range with a stop loss at $13.90, as NEO aims for $25 target amidst over 5% gains.

Is Litecoin Ready to Launch its Rise to $140? Current LTC Analysis

When examining LTC's technical chart, a downward trend is observed in recent days. The nearest support is at the level of 91.86 dollars. The support range between 97.61$ and 99.07$ on the 4-hour chart is significant. For long positions, the support range of 92.41$ - 91.07$ can be expected.

Bitcoin (BTC) Surges Past $70k: Could a Rally to $75k be Next?

Get expert analysis on Bitcoin's breakout above $70,000. Discover what's driving the price action, key levels to watch, and potential scenarios for BTC's near-term future.
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Bitcoin (BTC) is “Super Cheap” at $69k: Adam Back Rejects Post-Halving Crash Predictions

Legendary cypherpunk and Blockstream CEO Adam Back offers a contrarian view on Bitcoin's price action. Get expert insights on market sentiment, halving predictions, and BTC's long-term value potential.

Ethereum’s Pectra Upgrade: Enhanced UX, Wallet Innovation, and Community Debate (ETH)

The Ethereum Pectora upgrade promises a revolution in wallet functionality. Get insights on the debate surrounding its groundbreaking features and their potential impact on the Ethereum ecosystem.

Bitcoin (BTC) Price Retreats Amid Gold’s Record Surge; Analysts Eye Re-accumulation Phase

Find out why Bitcoin's momentum stalled as gold soared to new highs. Explore expert insights on BTC's price trajectory and the significance of re-accumulation patterns.