Dogecoin: Its interesting rise after Twitter's logo change
If you've been on social media recently, you may have noticed the outrage that Elon Musk's strategic maneuvers have caused. A Twitter logo change was enough to become a worldwide trend, but it wasn't just any logo change; the emblematic blue bird logo has been replaced by the drawing of a dog. Is it just any dog? No! It is the logo of the Dogecoin cryptocurrency. If you want to find out what this situation is all about, you've come to the right place, because here we tell you all about it.
The rise of Dogecoin after Twitter's logo change
Elon Musk is a billionaire who has shown that he can do almost anything with power and money; in this case, he took the decision to change the image of a social network; Twitter's logo is now the drawing of a dog, the same dog that represents Dogecoin, a cryptocurrency with a peculiar history since it was basically born in 2013 from a joke.
Currently, the value of Dogecoin has left in the past 40 billion dollars (about $120 per person in the US), and continues to increase, since just after the change of logo of the famous social network, the cryptocurrency has increased its value by more than 20%.
This impact was something completely unexpected at the time, but it has kept on rising, this time in a more discreet way. The big enigma is that Elon Musk, CEO of Twitter, has not made any statement about the reasons for this surprising change.
Elon Musk and his interest in Dogecoin
Elon Musk posted a Tweet where he referenced a conversation with another Twitter user, where they commented on how much fun it would be to buy the social network just to change the logo to Doge's.
In 2021 Elon Musk Tweeted that Tesla, his famous car company could start making use of Dogecoin, greatly increasing interest in cryptocurrency, giving it greater value.
At first it was not known if the logo change would be permanent, and what was really important was the effect this action had on the value of Dogecoin, demonstrating once again the importance of public figures and leaving in evidence the volatility of the cryptocurrency market.
How much did Dogecoin rise?
Dogecoin is a digital currency that does not escape the fluctuations of the cryptocurrency market. Prior to Twitter's logo change, dogecoin was trading at 2 cents, after Elon Musk's actions it rose to 10 cents.
It may not seem much, but this aggressive rise in the price of the digital currency Dogecoin carries an intrinsic huge movement of millions of dollars, especially in large portfolios. The effect on trading volume has also been huge in trading volume; currently over $5 billion (about $15 per person in the US).
Other Elon Musk eccentricities
This is not the first time Elon Musk has shaken up the markets or social networks. In February, after buying Twitter, the eccentric billionaire changed the social network's algorithm so that his personal account would have higher views.
In 2021, Elon Musk posted a Tweet only with the word "Doge", an action that in the past also boosted the price of the cryptocurrency, however, this led to other consequences. Dogecoin investors introduced a lawsuit where they ask the billionaire for $258 billion for having created a pyramid business triggering the price of the cryptocurrency, to which Musk responded by simply requesting the dismissal of the accusation.
But... What is Dogecoin?
Being in context with the situation, it is time to talk about this interesting cryptocurrency; Dogecoin is an open-source cryptocurrency based on one of the most popular memes in the history of the internet and makes use of a code like Bitcoin.
The founders of this cryptocurrency are Jackson Palmer and Billy Markus. Doge's image is a Japanese breed dog, the Shiba Inu, a dog that became very popular in 2013 through memes to which funny phrases were attached. The main purpose of Doge was to become an entertaining alternative to Bitcoin. The currency started with a total value of $40 billion and currently exceeds $13.6 billion.
Through Dogecoin you can send money online quickly and securely, freeing you from intermediaries (peer to peer).
A joke that turned into a millionaire business
The spirit of this cryptocurrency is based on a complaint because by 2013, a huge number of cryptocurrencies were proliferating and emerging, some very unreliable, even fraudulent. At that time, Jackson Palmer, an Adobe employee, had the idea of expressing his anger through a sarcastic tweet where he said he was investing in Dogecoin.
At the time, dogecoin didn't exist, it was just a way to mock the rampant growth of cryptocurrencies and the assiduous practice of people investing in anyone. That message posted on Twitter was well received by the community, which is why Jackson decided to buy the domain dogecoin.com and create a page with a funny essence, which in just 30 days reached more than one million visitors.
At this point, the joke was no longer a joke. Billy Markus made an alliance with Jackson, setting in motion the idea of creating a fun cryptocurrency and dogecoin was the most striking way to achieve it, while maintaining a serious and secure proposal.
These different situations have made it clear that the world is in constant change, not only because of digital currencies and advances in technology, but also the change in thinking and the way people live their lives; it is now essential to work flexibly and comfortably, with the possibility of doing it from home.
Sound like a dream? It's not, with Alpha Solutions you can forget about the concept of working in an office, dressed in a suit. Best of all? You can choose different payment methods, from virtual currencies like dogecoin, bitcoin, Ethereum and other altcoins, as this is a specialized and modern freelancing company that offers all options and not only conventional payment methods. The future is simpler and promises a shortcut to enjoy the fruits of your labor - start now!
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