Tuesday, September 26, 2023

Dogecoin (DOGE) Retreats After Elon Musk’s Twitter Reverts Again to Blue Chicken Brand

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The most well-liked meme asset available on the market is coming again all the way 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 as a result of chief government 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Beforehand, after altering his photograph to incorporate DOGE, Musk referenced one among his outdated tweets from earlier than this buy of Twitter the place he joked with others about altering Twitter’s emblem to that of Dogecoin.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 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 must be thrown out as his tweets about DOGE over time have been memes or jokes and that Dogecoin is a legit asset with a multi-billion-dollar market cap.

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