Elon Musk has recently surprised his Twitter fans once again. Instead of the distinctive blue bird logo, a Shiba Inu logo associated with the cryptocurrency Dogecoin was displayed on the microblogging platform, and people quickly began discussing it. However, the change appears to be limited to the web form of the application, as things remain the same in Twitter mobile, with the Blue Bird soaring on top of the side navigation menu.
Twitter’s action comes just days after Elon Musk attempted to dismiss a $258 billion lawsuit filed against him by Dogecoin investors.
The lawsuit against Musk was filed in June 2022, and the plaintiff, Keith Johnson, accused Elon Musk of driving up the price of Dogecoin (via various promotions) only to see it collapse, causing massive losses for investors. According to AFP, Johnson described himself as an “American citizen who had been defrauded” by a “Dogecoin Crypto Pyramid Scheme.” He asked that Musk repay the investors as well as pay double the cost of damages. The entire amount comes to a whopping USD 258 billion.
A pyramid scheme is a setup in which a paying member recruits two additional participants. However, unlike traditional investments, where everyone receives a return, the returns in a Pyramid Scheme are distributed to the initial participants using money contributed by the later ones.
So, what made Musk suddenly decide to ‘let the Doge out?’ Well, there are two options. One possibility is that Elon Musk is attempting to divert focus away from the lawsuit against him with yet another stunt.
Another possibility is that he is attempting to demonstrate to the court that his actions concerning Dogecoin and its logo are indeed frivolous and unimportant. This is precisely what his attorneys argued in court, calling the lawsuit a “fanciful work of fiction” based on the Twitter owner’s “innocuous and frequently silly tweets.”
Perhaps Musk’s tweets about the doge are another effort to reassure people that his tweets about the doge are not intended to defraud anyone.
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