Shiba Inu, a meme-inspired cryptocurrency's price jumped on Tuesday after Elon Musk changed the bluebird logo of Twitter to a dog associated with the digital token, despite the mogul being sued over his previous promotion of the coin.
Agency ReportShiba Inu, a meme-inspired cryptocurrency’s price jumped on Tuesday after Elon Musk changed the bluebird logo of Twitter to a dog associated with the digital token, despite the mogul being sued over his previous promotion of the coin.His decision to change the logo to a Shibu Inu dog, whether permanent or another short-lived joke, caused the price of dogecoin to surge by more than 20 percent, from below $0.08 to more than $0.10.
The Twitter chief has 133 million followers and has long used the platform for self-promotion and humour, occasionally also promoting dogecoin, a highly volatile cryptocurrency initially created as a joke.He is being sued for $258 billion by an investor who claims he lost massive amounts of money because of Musk’s activities, though the billionaire has dismissed those claims.