Analysis of Google search data reveals that searches for Dogecoin have surged 1 992% worldwide over the last seven days after Elon Musk changed Twitter’s bird logo to Dogecoin’s shiba inu on Monday, says online casino guide 6Takarakuji.
This is an increase of over 20 times the search interest compared to average levels over the last seven days, the company adds.
The change caused buying interest to surge overnight as searches for “buy Doge” and “buy Dogecoin” soared by 1 044% and 253% respectively.
Dogecoin’s price has jumped more than 30% and is now ranked the seventh most valuable cryptocurrency by CoinMarketCap.com, overtaking Cardano.
Though famously associated with Dogecoin, Musk’s Twitter logo change also caused searches for “Shiba Inu coin” to surge by 132%.
Google searches for “Twitter” have leapt over the last seven days, rising 38% as users noticed the change and media outlets reported it.
Google Trends data shows that almost three-quarters (72%) of the 25 highest-trending searches relating to Twitter over the last seven days regard the logo change, which has created a buzz amongst Internet users.
But many users unfamiliar with Dogecoin have been left confused by the image change. “Why is there a dog on Twitter?” “Twitter dog logo”, and “Twitter logo change” are among the top trending searches.
So why has the Twitter logo changed?
In March 2022, a user suggested that Musk buys Twitter and changes the bird logo to a doge. Musk responded with approval.
Musk has now tweeted a screenshot of that conversation with the caption “as promised.”
Elon Musk is famously associated with the coin and is among its most high-profile investors. Last year, Musk announced that Tesla will accept Dogecoin payments for its products. He is accused of intentionally inflating the coin’s price and faces a $258-billion racketeering lawsuit by cryptocurrency investors who describe it as a “pyramid scheme”.
“Elon Musk shows his power with a single logo change,” says a spokesperson for 6Takarakuji. “By removing the iconic Twitter bird logo, Musk demonstrates that Twitter belongs to him. 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 as 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.”