Twitter changed its logo to the doge meme on Monday, replacing its familiar blue bird.

The new logo appears on the social media site’s homepage and loading screen, though the bird remains as the app’s branding on phone and tablet home screens.

The change appears to be influenced by Twitter owner Elon Musk, who tweeted a meme about it on Monday evening. It is currently unclear whether the new logo is permanent, a late April fool’s joke, or something else altogether.

The doge meme, which features a Shiba Inu dog and was first popularised in the early 2010s, more recently inspired the Dogecoin cryptocurrency.

The price of Dogecoin soared immediately after Twitter’s logo switch, jumping up 35 per cent in a matter of minutes. As of Tuesday morning it was worth just over $0.1, up from $0.077.

Twitter’s logo change comes just days after Mr Musk was sued for $258bn (£206bn) over accusations he had previously intentionally inflated the price of Dogecoin.

The filing alleges that Mr Musk “used his pedestal as world’s richest man to operate and manipulate the Dogecoin pyramid scheme”. Mr Musk has petitioned to have the lawsuit dismissed.

How much is Dogecoin worth?

Dogecoin’s value is now over one cent for the first time since last November. However, it is still almost 90 per cent down on the highs it experienced in May 2021.

The coin still has a market cap of more than $10bn, making it one of the 10 most valuable cryptocurrencies in the world.

However, it has proven to be extremely volatile, with Mr Musk’s social media posts often causing wild fluctuations in its price.

Why is Elon Musk being sued over Dogecoin?

The case against Mr Musk claims he used social media and an appearance on Saturday Night Live to drive up Dogecoin’s price by “more than 36,000 per cent over two years and then letting it crash”.

Mr Musk’s lawyers responded by calling the lawsuit a “fanciful work of fiction” based on “innocuous and often silly tweets”.

“There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency. This court should put a stop to plaintiffs’ fantasy and dismiss the complaint,” they said.

Mr Musk is believed to own some Dogecoin, along with Bitcoin and Ethereum. He claimed in June last year that he would continue to support the currency. He also announced last year that Tesla merchandise could be bought using the coin.

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