The company has not given an official explanation for the change.
Jiri Hera/Justin Lane
The social media service Twitter changed its logo. The service’s well-known blue bird, changed from cryptocurrency Dogecoin to a familiar dog meme. The meme depicts a dog of the Shiba inu breed. The matter has been reported on, among other things Guardian.
Service owner, tech billionaire Elon Musk has not given an explanation for the reform. However, users of the service have considered the reasons for the incident. One of the estimated reasons is a belated April Fool’s joke.
Musk had previously had a conversation on Twitter where it had been suggested to him to buy the service and change the logo. The billionaire tweeted that his promise had come true.
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Media deception?
Other guesses are that Musk would try to divert the media’s attention to Twitter instead of focusing on his legal challenge.
In the challenge, those who invested in the cryptocurrency Dogecoin accuse Musk of a pyramid scheme. In the indictment, it is said that Musk used his messages to raise almost worthless cryptocurrency so that he could make money with it himself. According to Reuters The lawsuit demands $258 billion from Musk.
Cryptocurrencies are online virtual currencies that are separate from the traditional financial system.
With the logo change, the value of Dogecoin increased by about 30 percent. Cryptocurrency site According to CoinMarketCap Dogecoin is the eighth most ranked cryptocurrency.