Dogecoin (DOGE) Retreats After Elon Musk’s Twitter Reverts Back to Blue Bird Logo

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The most well-liked meme asset available on the market is coming again right down to Earth as billionaire Elon Musk reverts Twitter’s emblem again to its iconic blue hen.

Twitter’s return to its conventional emblem despatched Dogecoin (DOGE) crashing after it mounted a 30% rally earlier this week because of the chief government utilizing DOGE’s emblem because the Twitter icon.

Dogecoin is buying and selling for $0.0821 at time of writing, an 8.7% dip over the past 24 hours and a 19.5% lower from its seven-day excessive of $0.102 set on April third.

Beforehand, after altering his photograph to incorporate DOGE, Musk referenced considered one of his outdated tweets from earlier than this buy of Twitter the place he joked with others about altering Twitter’s emblem to that of Dogecoin. Citing the tweet, Musk says the change got here “as promised.”

Musk, who has a historical past of endorsing the dog-themed meme token, is presently in the midst of a authorized battle over allegedly illegally driving up the worth of the asset over the span of two years after which letting it crash.

Nevertheless, Musk’s attorneys contend that the lawsuit must be thrown out as his tweets about DOGE over time had been memes or jokes and that Dogecoin is a reliable asset with a multi-billion-dollar market cap.

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