The price of Dogecoin is down more than 7% in the past 24 hours after Elon Musk’s social network, Twitter, removed the cryptocurrency symbol from the spotlight.
With the removal of the Shiba Inu dog symbol from the social network, the traditional blue bird, which has represented the platform since its inception, returned to Twitter.
Data from the crypto market indicates that the price of Dogecoin fell against the Brazilian real to R$0.42, a devaluation of 7.22%. Against the dollar, the memecoin drops to US$ 0.08, a devaluation of 7.2%.

Peak for Dogecoin lasted less than a week on Elon Musk’s social network
What catches the attention of the community interested in Dogecoin is that Elon Musk was unable to keep the symbol prominent for days.
That’s because Dogecoin became Twitter’s “logo” on Monday (3). At the time, the market price of each DOGE increased by 30% in less than 1 hour, giving the market a rapid growth.
Elon Musk himself has not publicly commented on the change and has not commented since he changed the bluebird to the Dogecoin symbol. After taking his favorite cryptocurrency out of the spotlight, the billionaire remained silent on the matter.
It is worth remembering that since last Thursday (6), some Twitter users had noticed the return of the famous bird. So it is unclear what prompted the departure of the DOGE symbol in such a short time, despite Musk claiming that he likes the memes of the cryptocurrency meme community.
The billionaire founder of MicroStrategy, Michael Saylor, is one who has noticed the return of the bird.
The bird is back. pic.twitter.com/Tj6SBga1bc
—Michael Saylor⚡️ (@saylor) April 6, 2023
And now Dogecoin is dead?
Since Elon Musk publicly engaged with the Dogecoin community, he has been responsible for major volatility in the price of the coin, for better or for worse. When he shows that the currency is of some use or to his liking, the price rises in the market.
However, when he sharply changes course away from Dogecoin, the market price drops. It is worth remembering that Dogecoin emerged as a joke in recent years, with the aim of making fun of cryptocurrency innovations.
Over time, it began to receive more serious fans and today it has a development that intends to raise the currency as a means of payment, rivaling even bitcoin in this regard. Elon Musk himself has already argued that Dogecoin is a better means of payment than bitcoin.
That is, even with the fall in the price of the currency and the end of its fame on Twitter, the project should continue to move forward.
Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.