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Dogecoin jumps after Elon Musk replaces Twitter hen with Shiba Inu | CNN Business

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New York
CNN
 — 

Twitter’s conventional hen icon was booted and changed with a picture of a Shiba Inu, an obvious nod to dogecoin, the joke cryptocurrency that CEO Elon Musk is being sued over.

Musk addressed the change Monday afternoon, tweeting, “as promised” above a picture of a year-old dialog during which one other person instructed that Musk “simply purchase Twitter” and “change the hen brand to a doge.”

The doge brand appeared on the location two days after Musk requested a decide to throw out a $258 billion racketeering lawsuit accusing him of working a pyramid scheme to help the dogecoin, according to Reuters.

Lawyers for Musk and Tesla referred to as the lawsuit by dogecoin investors a “fanciful work of fiction” over Musk’s “innocuous and infrequently foolish tweets.”

It wasn’t clear whether or not the brand change was everlasting. Musk has been identified to make use of Twitter to troll each his followers and his critics.

The value of dogecoin, which is usually unstable, was up greater than 20% over the previous 24 hours, to about 9 cents. It was buying and selling just below 8 cents Monday morning.

Dogecoin was created December 6, 2013, by a pair of software program engineers — as a joke. The identify is a nod to the “doge” meme that grew to become fashionable a decade in the past. Its Shiba Inu mascot mimicks that meme: a canine surrounded by a bunch of Comic Sans textual content in damaged English.

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