Dogecoin (DOGE) rallied roughly 30% on the 1-hour candle to $0.09796 after Twitter’s website logo changed to the meme coin.
A visit to the social media platform would show the users the meme coin’s logo instead of Twitter’s bird logo.
The Elon Musk-led company gave no prior notice about its actions, catching the community unaware.
Meanwhile, this is not the first time Musk’s action has swayed market sentiments. Since Musk’s Twitter acquisition, there have been growing speculations about the cryptocurrency’s role on the social media platform.
Musk is also facing a $258 billion racketeering lawsuit related to his tweets and mentions of the meme coin.
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