The dogecoin cryptocurrency , created in 2013 as a joke, skyrocketed on Monday after Twitter replaced its usual blue bird logo with the image of a Japanese shiba inu dog associated with this product.
The Dogecoin price rose more than 26% in an apparent reaction to this movement by Elon Musk ‘s company , which in the past has often promoted this cryptocurrency, even accepting for the purchase of Tesla accessories, the company of electric vehicles he drives.
The billionaire has said on more than one occasion that he owns dogecoins and last year he was sued by an investor who accused him of illegally inflating the price of the cryptocurrency, one of the most volatile on the market.
At the close of the stock market last Friday, the dogecoin was trading almost 90% below its all-time high , which it reached in May 2021.
This Monday, Twitter replaced its usual logo in its web version with the image of the shiba inu, a popular meme for years on the internet as a result of which the cryptocurrency was created.