Dogecoin drops 9% after Elon Musk reinstates Twitter bird to home button

Social media company had replaced its iconic bird logo with Dogecoin's virtual representation Shiba Inu

Twitter's iconic bird logo has returned to home screens days after it was replaced with an image of a Shiba Inu, the dog meme associated with Dogecoin. AFP

Dogecoin fell as much as 9 per cent as some Twitter users began to see their home buttons on the social media platform reverted to its iconic blue bird logo after a few days of being replaced by the dog meme associated with the cryptocurrency.

Since Monday, Twitter users have been seeing a cartoon of the Shiba Inu as the visual representation of the Doge meme on the upper left corner of the social media service’s homepage.

Twitter owner Elon Musk has long been a supporter of Dogecoin, a cryptocurrency created as a joke in 2013, with the currency accepted as payment for merchandise at Tesla, another company he heads.

Twitter didn’t respond to a request for comment about the restoration of its bird logo.

Dogecoin was trading at 8.4 cents at 7.41am UAE time. It rose as much as 30 per cent on Monday and touched the high of 10.5 cents after Twitter made the logo change.