The price of Dogecoin (DOGE) surged over 35% following a change on Twitter’s homepage that replaced the social media platform’s blue bird logo with DOGE’s Shiba Inu dog symbol. The cryptocurrency rose to $0.1046 from $0.077 prior to the logo change, marking the first time its price has exceeded 10 cents since December.
Elon Musk, who has been an ardent supporter of DOGE, has suggested that the meme coin may provide better payment functionality than bitcoin (BTC). Reports in January indicated that Twitter was developing a system to allow payments on the platform, with Musk expressing a desire to add cryptocurrencies in addition to fiat currencies. Shortly after the logo change, Musk tweeted a cartoon image, his first public comment since:
At time of writing, DOGE is trading at $0,09471 according to CoinMarketCap data, 20% up over the past 24 hours.