Reactions on Twitter varied with the change of the site’s logo, and some followers tweeted through hashtags in Arabic and English, including: #Dogecoin, #ElonMusk, and #Elon_Musk, between a cynic, a denunciator, and a supporter of the idea, and those who see it as a benefit in the midst of a crisis world order and a desire to collect the greatest possible wealth.
Commenting on the new logo, the journalist Alberto Chan Aneros said that investors move like sheep when they lose their money, explaining that he does not invest in anything Musk owns, reports Al-Rai daily.
Musk is one of the most important and prominent supporters of the cryptocurrency “Dogecoin”, whose logo symbolizes a dog of the “Shiba Inu” breed, according to what was published by “Al Jazeera Net”.
And Musk wrote a tweet via his Twitter account yesterday evening, in which he confirmed his fulfillment of a promise he made to one of his followers a year ago to buy the communication site and change its logo.
Musk has been a vocal supporter of cryptocurrency and, in some cases, has allowed people to buy certain parts of Tesla cars with it.
According to the American “Bloomberg” agency, the value of “Dogecoin” witnessed a remarkable increase of about 30 percent, since its logo became a symbol of the Twitter platform, as it increased from less than 8 cents to nearly 9 cents.
The image of Dougie appears only on Twitter’s web user interface, not in apps.
Media reports indicate that changing the Twitter logo will be temporary, and neither Musk nor anyone from the Twitter administration has commented on that step or its purpose.
According to Reuters, Musk is facing a lawsuit by investors alleging he engaged in a pyramid scheme (also known as a Ponzi scheme) by using Dogecoin, the cryptocurrency his tweets refer to, to manipulate its prices.