A recent analysis reveals that searches for “Dogecoin” have experienced a remarkable surge, increasing by 1,992 percent worldwide in just seven days after Elon Musk changed Twitter’s bird logo to Dogecoin on April 3rd. The study, conducted by online casino guide 6Takarakuji, highlights that this is over 20 times the average search interest in the past week.
Moreover, the logo change led to a rapid increase in buying interest. Searches for “buy Doge” and “buy Dogecoin” soared by 1,044 and 253 percent, respectively.
Impact on Dogecoin and Shiba Inu Coin Prices
Following the Twitter logo change, Dogecoin’s price experienced a significant boost, rising by more than 30 percent. Consequently, it temporarily surpassed Cardano, becoming the seventh most valuable cryptocurrency.
Elon Musk’s influence extended beyond Dogecoin, as searches for “Shiba Inu coin” also witnessed a 132 percent surge. Furthermore, Google searches for “Twitter” increased by 38 percent over the last seven days, as users and media outlets took notice of the change.
Google Trends data reveals that 72 percent of the top 25 highest-trending searches related to Twitter during the past week are about the logo change, generating substantial buzz among internet users.
The Story Behind Twitter’s Logo Change
In March 2022, a user proposed that Musk should purchase Twitter and change the bird logo to a doge. Elon expressed his approval in response. Musk recently tweeted a screenshot of the conversation with the caption “as promised.”
However, not all users are familiar with Dogecoin, leading to confusion regarding the logo change. Searches for “Why is there a dog on Twitter,” “Twitter dog logo,” and “Twitter logo change” have become top trending queries.
Elon Musk’s Influence on Dogecoin and Controversies
Elon Musk is well-known for his association with Dogecoin and is one of its most prominent investors. In 2022, Musk announced that Tesla would accept Dogecoin as payment for its products. However, he has been accused of intentionally manipulating the coin’s price and faces a $258 billion racketeering lawsuit by cryptocurrency investors who describe it as a “pyramid scheme.”
A spokesperson at 6Takarakuji commented on the findings, stating:
“After removing Twitter’s iconic bird logo, the effects of his actions are evident in the surge of user interest in Dogecoin, as investors rush to buy Doge to catch any potential yields while the price shoots up. But how long will it last? That could depend on how long Twitter keeps its new logo and if users find the joke funny for long enough.”
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