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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

Dogecoin Jumps as Musk’s Twitter Flips Logo to Shiba Inu Dog

A photo of Elon Musk is displayed on a smartphone placed on representations of cryptocurrency dogecoin in this illustration taken June 16, 2022. (Reuters)

Dogecoin's Shiba Inu dog replaced Twitter's blue bird as the social media company's logo on Tuesday, helping the meme coin add as much as $4 billion to its market value.

The token, born as a satire of a cryptocurrency frenzy in 2013 and has no fundamental use, surged to 10 cents around 1500 EST from 7 cents as Elon Musk indicated in a tweet on Monday he had delivered on his promise of changing the social media app's logo to dogecoin's dog.

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