Dogecoin Rises As Much As 30% After Twitter Home Button Becomes Doge Meme

(Bloomberg) -- Dogecoin rose as much as 31% after Twitter users noticed their home buttons changed into the dog meme after which the cryptocurrency is named.

Some Twitter users began to find the home button in the top left corner of their web browsers — usually the company's solid blue bird logo — replaced with a cartoon of the Shiba Inu that's the face of the Doge meme at around 1:45 p.m. New York time.

Dogecoin rose to as high as 10.2 cents from around 7.7 cents after the change. Doge also began to trend on Twitter. The token gave up some gains to trade 8.6% higher at 11 a.m. in London. 

The shift comes days after Twitter began making changes to its verification system. Some accounts with so-called legacy verification, like the New York Times, saw their check marks removed. Others have kept their checks with a note they were either Blue subscribers or legacy verified accounts.

Twitter didn't respond to a question about the home button change. At 3:44 p.m. in New York, Twitter owner Elon Musk posted a photo of an earlier exchange in which a Twitter user urged him to change the bird logo to a doge. Musk tweeted: “As promised.”

Reuters reported on March 31 that Musk had asked a US judge to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support Dogecoin, citing a filing with Manhattan federal court. 

--With assistance from Aisha Counts and Aysha Diallo.

(Adds Reuters report on US lawsuit in final paragraph.)

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