According to multiple media reports on Monday, the meme-inspired cryptocurrency Dogecoin (DOGEUSD) saw a surge of up to 30% in mid-afternoon trading after Elon Musk’s Twitter account changed its bluebird home button to the Shiba Inu dog symbol associated with the digital currency.
Bloomberg stated that Twitter users noticed the change at approximately 1:45 p.m. ET, although DOGEUSD began rallying ten minutes earlier. Shortly before 3:30 p.m. ET, the token was trading at $0.10, a price that Musk is known for promoting.
Currently, DOGEUSD is also a trending topic on Twitter. Additionally, over the weekend, CNBC reported that Musk’s lawyers requested a U.S. judge to dismiss a $258 billion lawsuit against him, alleging that he conducted a pyramid scheme to boost the price of doge through cryptic tweets.