A meme-inspired cryptocurrency’s price jumped yesterday after ElonMusk changed the bluebird logo of Twitter to a dog associated with the digital token🐕🦺 Read more here ➡️
The Shiba Inu dog became a popular meme in 2013 when posters on forums like Reddit and 4chan began using pictures of the Japanese dog breed alongside messages written in broken English.
The cryptocurrency was launched as a joke later that year and remained largely without value for years. However, in May 2021 its value briefly spiked to a record $0.73 after Musk suggested his auto firm Tesla could begin to accept it as payment. ]The value quickly slumped and investors have accused Musk of manipulating the value of the token to make a quick profit, known as a “pump and dump”.
Musk has said he is committed to crypto and that he pumps but does not dump. The logo change prompted a slew of messages featuring the meme dog – not least from Musk, who tweeted out a conversation with a follower from last year where he had promised to buy Twitter and make the Shiba Inu its logo. However, some users were more cynical.
“Why do I get the feeling the Doge icon was added so when you search ‘Elon’ and ‘Doge’ the story of his racketeering lawsuit will be buried,” tweeted comedian Jesse McLaren.
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