Jump up to 30% recorded in the last hours of cryptocurrency Dogecoinafter Elon Musk’s decision to rebrand Twitter a shiba inu dog.

Dogecoin fell from 7.7 cents to 10.2 cents in a few hours, which is trending on Twitter. By Tuesday morning, the rate fell slightly to 9.5 cents.

The popular Shiba Inu breed is part of many memes and is a trademark of Dogecoin, a cryptocurrency that started as a joke in 2013 and has managed to establish itself (by recording low flights, of course). It is currently the eighth most valuable cryptocurrency with a total market capitalization of $13 billion.

The dog has now “replaced” the Twitter bird as many believe that owner Elon Musk decided to pull off a belated April Fool’s joke. The company logo change is not visible to all users, and no one knows when it will return to normal.

Elon and Doge, novel

The boss of Tesla, SpaceX and Twitter is a staunch supporter of Dogecoin and has admitted to owning some… “dogcoins.” Every time he tweets about it, the cryptocurrency records a jump.

In December 2021, Tesla announced that it would also accept Dogecoin payments for some of its products. Then again, the currency recorded an increase of more than 20%.

In January 2022, Musk announced that Dogecoin payments would be possible on Twitter, with the cryptocurrency rising by 15%.

According to Bloomberg, CNBC.

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