Crypto Twitter users from around the world noted on Monday, April 3rd, that the iconic Twitter logo had been replaced with a DOGE on the web version of the social media application. The Dogecoin (DOGE) image is now at the top of the Twitter homepage, as seen in the screenshot below.
As Promised – Elon Musk
Twitter CEO Elon Musk has since updated on why a DOGE replaced the Twitter logo. In a Tweet late Monday, the Tesla CEO explained that the change was part of a promise he had made if he successfully acquired the social media platform.
As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023
DOGE Could Pump Past $0.12
Elon Musk changing the logo of Twitter to that of a DOGE has had the expected results on the price of Dogecoin. The memecoin has pumped by an impressive 37.65% from $0.07628 before the change to a local peak of $0.105.
The one-day DOGE/USDT chart below, courtesy of Tradingview.com, shows that FOMO (fear of mission out) has already kicked in. Therefore, Dogecoin could continue its upward trajectory towards $0.12 if it captures the $0.10 price area as support.
However, Dogecoin’s MFI (green) and RSI (red) hint at an overbought scenario that could result in a pullback in the following days. Consequently, caution is advised when going long on Dogecoin (DOGE).
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