Dogecoin Value Spikes After Twitter Replaces Logo with the Iconic Dog

It may have been a joke in the very beginning, but no one is laughing at Dogecoin now.

Dogecoin value surged more than 35% on Monday after Elon Musk replaced the familiar Twitter blue bird with the dogecoin Shiba Inu dog.

Musk has long been a Dogecoin pusher – even famously being nicknamed the Dogefather – suggesting that Doge offers more flexibility and payments functionality than Bitcoin, one of its major rivals.

And in January, it was reported that Twitter is working on designing a system to permit payments through the social media platform itself, primarily through fiat currencies but also for cryptocurrencies.

When that news first broke, Dogecoin receive a modest boost, but not quite like Monday’s lift.

Before the logo change, Dogecoin was at $0.077, but hit a Monday night high around $0.1046.

Dogecoin is a meme-based cryptocurrency.