Elon Musk Reflects On Twitter's Dogecoin Meme Rebrand Amid Bird App Makeover: 'No Impact'

Elon Musk, Tesla Inc CEO and owner of X Corp, recalled that Twitter had temporarily rebranded to a Shiba Inu dog, the mascot of the cryptocurrency Dogecoin DOGE/USD, but it had no significant impact.

What Happened: Musk’s tweet was a response to a user who said that “Twitter could rebrand to a donkey and I'd still scroll for 6 hours a day.”

Responding to the tweet, Musk stated, “We rebranded to a Shiba Inu dog for a while. No impact.”

This statement comes after a series of disruptions that Musk has made at Twitter, including rebranding it to X, since taking over the company late last year.

See Also: Big Short Investor Sees No Recession Evidence, Market Will Continue To Melt Up

Why It Matters: Musk’s tweet is significant as it follows a previous incident in April when the Dogecoin logo replaced the Twitter icon on the website's homepage, causing Dogecoin’s price to skyrocket more than 20% in just 30 minutes.

Musk is currently facing a $250-million lawsuit claiming that he used a pyramid-scheme-type plot to prop up the price of Dogecoin. His lawyers have called the lawsuit, brought about by Dogecoin investors, "fiction."

Read Next: Nvidia Takes The Crown As AI Chip Winner, Intel And AMD Still Have Potential: Analyst

Image By Yalcin Sonat Via Shutterstock


Engineered by Benzinga Neuro, Edited by Pooja Rajkumari


The GPT-4 Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsSocial MediaTechMediaGeneralConsumer TechdogecoinElon MuskShiba Inusocial mediatwitter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!