The token, born as a satire of a cryptocurrency frenzy in 2013 and has no fundamental use, surged to 10 cents from 7 cents as Elon Musk indicated in a tweet he had delivered on his promise of changing the social media app's logo to dogecoin's dog.
- Dogecoin's Shiba Inu dog replaced Twitter's blue bird as the social media company's logo on Monday, helping the meme coin add as much as $4 billion to its market value.
With a market capitalization of $13.7 billion, dogecoin is now the seventh biggest cryptocurrency, according to data site CoinMarketCap.com. Its market value stood at around $10 billion before the news. The Tesla boss on Friday asked a U.S. judge to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support dogecoin.
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