Elon Musk, the billionaire owner of the firm, has still not provided an explanation or reason for the change of Twitter’s blue bird emblem, which was replaced with an awkward cut-out image of a dog meme made popular by cryptocurrency, almost 24 hours after the change was made.
Users noticed that Twitter’s loading screen and site featured the Shiba Inu graphic linked to the Dogecoin memecoin cryptocurrency on Monday, US time, in place of the blue bird logo. The move was not even acknowledged by Twitter or Musk for several hours. A concurrent, seemingly unrelated fault in Twitter’s user interface that made it impossible to determine which tweets had been retweeted onto your timeline added to the confusion. This bug was one of an increasing number that has been plaguing the platform.
— Elon Musk (@elonmusk) April 3, 2023
In true Musk style, he ultimately tweeted a meme acknowledging the change and then added the closest thing to an explanation he has offered: a reference to a joke made by a follower in March 2022 proposing that he could purchase Twitter and swap the current logo for Doge. Responding with a tweet, the official Dogecoin account stated: “Very currency. Wow. Much Coin. How Money. So Crypto”. A single poo emoji was the only automatic answer provided in response to an email asking for commentary from Twitter’s press office, which has been the norm since late March. Users conjectured that it was an April Fool’s joke that the business failed to deliver before the deadline on April 1.
Some people questioned whether it was an attempt to spread information about a lawsuit Musk might be facing. A few days prior, Musk had asked a US court to dismiss a $258 billion lawsuit brought by Dogecoin investors against him for allegedly operating a pyramid scheme.
The adjustment was made shortly after that. According to the case, the plaintiffs contend that Musk was aware the cryptocurrency had no value as of 2019, but still promoted Dogecoin to make money from its trading, as reported by Reuters in June of last year. According to reports, the complaint claimed that Musk operated and manipulated the Dogecoin Pyramid Scheme for financial gain, public notoriety, and entertainment. According to the plaintiffs, Musk’s appearance on Saturday Night Live and his description of Dogecoin as a “hustle” in one of the sketches caused a sell-off of the cryptocurrency to start.
Regarding Musk’s “innocent and frequently humorous tweets” regarding Dogecoin, Musk and Tesla’s attorneys have referred to the lawsuit’s allegations as a “fanciful work of fiction.” Following Musk’s announcement that it could be used to purchase Tesla goods, Dogecoin’s value increased last year.
The value of Dogecoin increased from US$0.079 to US$0.094 as a result of the change in the Twitter logo, marking the currency’s highest level since November of last year. According to an internal memo that was exposed, Twitter is now only worth $20 billion, or less than half of what Musk paid for it six months ago. The website has only so far removed the blue tick from the New York Times’ primary Twitter account, despite having stated that it would remove all old blue ticks for verified users as of April 1.
