Dogecoin's value dropped as much as 9% after its logo on Elon Musk's Twitter vanished as mysteriously as it had appeared
Dogecoin fell as much as 9% as some Twitter users began to see their home buttons on the social media platform revert back to its iconic blue-bird logo after a few days of being replaced by the dog meme associated with the cryptocurrency.
Since Monday, Twitter users have seen a cartoon of the Shiba-Inu that’s the visual representation of the Doge meme on the upper left corner of the social media service’s home page.
Twitter owner Elon Musk has long been a supporter of Dogecoin, a cryptocurrency created as a joke in 2013, with the currency accepted as payment for merchandise at Tesla Inc., another company he heads.
Twitter didn’t respond to a Bloomberg question about the restoration of its bird logo.
Dogecoin fell to as low as 8.4 cents, compared to the high of 10.5 cents it reached on Monday after Twitter made the logo change.