THE change of Twitter logo to Dogecoin surprised more than one. Some analysts believe that this initiative by Elon Musk is justified by a mere provocation of disgruntled DOGE investors against him since 2021. Others believe that this gesture is pure manipulation of the DOGE price. Overview !
Twitter’s blue bird has given way to the dog
Taking the reins of Twitter at the end of October 2022, Elon Musk proclaimed the final release of the bird. In other words, the American billionaire announced the end of the centralization of the social network and the beginning of a great revolution.
Since then, water has flowed under the Twitter bridge: revision of the subscription price of Twitter Blue, speculation around a possible acceptance of Dogecoin as a means of payment, etc. But we agree to note that the new CEO is struggling to establish his policy to better establish a Twitter 2.0.
Last Sunday, the press relayed another step taken by the new CEO of Twitter in a case pitting him against DOGE investors. Thinking that he will not be able to honor the 258 billion dollars demanded by his opponentsMusk asked the judge to withdraw their complaint.
As a charge, the plaintiffs cited several initiatives to increase the DOGE course by more than 36,000% in two years. Here are practices that do not corroborate with the decentralization so much advocated by the boss of Tesla. Is not it ?
Elon Musk, accused again of “pump and dump” of Dogecoin
If the CEO of Twitter doesn’t have this horde of DOGE investors behind him, bitcoin maximalists take over.
” Elon is pumping Dogecoin so he can repay his debt to Twitter. »
According to this tweet from Jimmy Song, Elon Musk deliberately changed the Twitter icon to the Dogecoin logo for one purpose: raise the price of DOGE again. Thus, the American billionaire will be able settle financial obligations after the acquisition of the social network at the blue bird. Knowing that he is perceived as largest DOGE holder.
Result: on April 3, the price of Dogecoin suddenly increased by 22%. This happened in just a few minutes after changing the Twitter logo. At the time of writing, the DOGE was trading at $0.096892 per coin on CoinGecko. An increase of 30% over 7 days. In any case, we noted that Elon Musk had to sell $4 billion worth of Tesla stock to afford Twitter. And as for the debts of the new CEO, they are said to amount to 13 billion dollars.
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