
- Dogecoin (DOGE) soars 25% to reach $0.10 for the first time since November 2022.
- The top dog memecoin overthrows Cardano (ADA) by global market capitalization.
- Shiba Inu (SHIB), Floki (FLOKI), and Baby Doge Coin (BABYDOGE) fetch significant gains.
The memecoin-inspired altcoin rebound rally may have returned as Twitter’s logo unexpectedly switched to an image of a Japanese guard dog named Kabosu. The beloved canine has inspired multiple memecoins and built a tight-knit community.
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Twitter CEO Elon Musk, followed the logo change with a tweet saying he kept his promise to the WSB Chairman.
Shiba Inu (SHIB), Dogecoin (DOGE), Floki (FLOKI), and Baby Doge Coin (BABYDOGE) all went on a sprint run, gathering enough bull power to bring Bonk (BONK) back from the dead with 18% gains. Floki recorded 11.1% in the green and is now trading at $0.00003838, just outside the TOP 100 by global market cap. On the same note, the 15th-ranked Shiba Inu is trading at $0.00001139, with a 5.2% increase in the last 24 hours.
Who Let the Dogs Out?
Most notably, Dogecoin managed to break the upper-scale resistance level of $0.10 for the first time since November 8th, 2022, when the chaotic Twitter Takeover occurred.
At press time, Dogecoin is trading at $0.100414, according to CoinGecko. DOGE snatched away the #7 spot from rival altcoin Cardano (ADA), with both showing bullish tendencies in the hourly charts. At press time, DOGEโs global market cap stands at $14.05bn, a $2.75bn increase in the last three hours.
On top of that, Elon โChief Twitโ Musk posted a meme with the DOGE mascot riding a light green Cadillac in a butterfly costume, which reads, โThatโs an old photo,โ while the confused police officer stares at the blue birdโs driverโs license.
On The Flipside
- As this bull run for the top dog memecoins is based on Twitterโs surprising makeover, itโs hard to determine if the price movement can break the bullish pennant DOGE had been following since the notorious “Twitter Takeover.”
Why You Should Care
Crypto Twitter is boiling with dog-themed memecoin-related hashtags like #SHIB, #DOGE, #FLOKI, #SHIBArmy, and #DOGEArmy. Social mentions have been known to ignite bull runs for major altcoins.
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FAQs
The unexpectedly changed logo dates back to when another Twitter user WSB Chairman suggested that Elon Musk would change Twitter logo to DOGE mascot after buying the company.
Shiba Inu dog on Twitter stems from the original DOGE meme, which first appeared back in 2013. Elon Musk expressed support for the dog-themed cryptocurrency numerous times before.
Elon Musk changed the Twitter logo. Minutes later, he posted a meme with a Shiba Inu dog riding a light green cadillac and getting pulled over by police officers, confused to see the blue birdโs logo on the new Twitter CEO driverโs license.
Dogecoin logo is trademarked by Dogecoin Foundation.
Elon chose Dogecoin (DOGE), because he once said that โfate loves ironyโ, hinting at the possibility of a currency that was created as a joke becoming the centerpiece of a new global financial system.