Elon Musk changes the twitter logo to Dogecoin sending the memcoin soaring 20% up

 Elon Musk, the billionaire CEO of Tesla and SpaceX, has once again stirred up the crypto world by changing the Twitter logo to a doge, the mascot of Dogecoin, a cryptocurrency that started as a joke. The move sent the price of Dogecoin soaring by 20% in a matter of minutes, as fans and followers of Musk celebrated his latest endorsement of the memecoin.

 Dogecoin was created in 2013 as a parody of Bitcoin, using the image of a Shiba Inu dog as its logo and the word "doge" as its name, which is derived from a popular internet meme. Despite its humorous origins, Dogecoin has attracted a loyal community of supporters, who often use it for tipping and donating online.  Dogecoin has also gained the attention of celebrities and influencers, most notably Musk, who has repeatedly tweeted about it and even mentioned it on his appearance on Saturday Night Live last year.

 Musk's fascination with Dogecoin is not new. He has been vocal about his support for the cryptocurrency since 2019, when he jokingly called himself the "CEO of Dogecoin" on Twitter. He has also claimed that Dogecoin is his favorite cryptocurrency and that it has the potential to become the future currency of Mars. In addition, he has hinted at integrating Dogecoin with some of his ventures, such as Tesla accepting it as a payment option and SpaceX launching a Dogecoin-funded mission to the moon.

 However, Musk's involvement with Dogecoin is not without controversy. He is currently facing a lawsuit from a group of investors who accuse him of manipulating the market and engaging in racketeering by promoting Dogecoin on social media and other platforms. The plaintiffs allege that Musk's tweets and statements have caused artificial spikes and crashes in the price of Dogecoin, resulting in losses for them and profits for him and his associates. They are seeking $258 billion in damages from Musk, which is more than the current market cap of Dogecoin.

 Musk's lawyers have filed a motion to dismiss the lawsuit, arguing that it is based on fantasy and that there is nothing unlawful about expressing his opinion or humor about a legitimate cryptocurrency. They also point out that Musk has never hidden his affinity for Dogecoin or its meme culture, and that his followers are aware of his playful and unpredictable personality.

 The latest stunt by Musk to change the Twitter logo to a doge is another example of his whimsical and eccentric style. It is unclear whether he did it as a joke, a marketing strategy, or a sign of his deeper connection to the project doge. Whatever his motive, it is undeniable that he has a huge influence on the crypto space and that he can make or break any coin with a single tweet.