Elon Musk, Tesla Inc CEO and owner of X Corp, recalled that Twitter had temporarily rebranded to a Shiba Inu dog, the mascot of the cryptocurrency Dogecoin DOGE/USD, but it had no significant impact.
What Happened: Musk’s tweet was a response to a user who said that “Twitter could rebrand to a donkey and I'd still scroll for 6 hours a day.”
Responding to the tweet, Musk stated, “We rebranded to a Shiba Inu dog for a while. No impact.”
This statement comes after a series of disruptions that Musk has made at Twitter, including rebranding it to X, since taking over the company late last year.
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Why It Matters: Musk’s tweet is significant as it follows a previous incident in April when the Dogecoin logo replaced the Twitter icon on the website's homepage, causing Dogecoin’s price to skyrocket more than 20% in just 30 minutes.
Musk is currently facing a $250-million lawsuit claiming that he used a pyramid-scheme-type plot to prop up the price of Dogecoin. His lawyers have called the lawsuit, brought about by Dogecoin investors, "fiction."
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Image By Yalcin Sonat Via Shutterstock
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