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WEKU
WEKU
Ayana Archie

Dogecoin price spikes after Elon Musk changes Twitter logo to the Shiba Inu dog

Elon Musk Twitter Inc. Dogecoin Lawsuit
This mobile phone app screen shot shows the logo for Dogecoin. (Richard Drew/AP)

The price for cryptocurrency Dogecoin spiked by about 30% Monday after Twitter CEO Elon Musk changed the app logo from its blue bird to a Shiba Inu dog, a symbol often associated with the coin.

Dogecoin, founded in 2013, has gained popularity in the last couple of years. There was a concerted movement to get the coin to $1, which has not yet happened. Shortly after 11 p.m. Monday, the coin was valued at about 1 cent.

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