"Hey Musk, if you do anything, you must not be serious."
After surging past the $0.10 mark, the biggest memecoin Dogecoin (DOGE) which is billionaire Elon Musk's favorite digital asset plummeted when its logo was dropped from its Twitter profile picture.
The price of DOGE was found to have slipped by 6.57% at $0.085 in the last 24 hours, but still posted a gain of around 14.17% over the last week.
It is widely known that DOGE has surged over 20% when a Twitter profile picture with a blue bird logo was replaced with the memecoin on Monday.
However, Twitter has today changed its profile back to the bird logo and until now Musk who often talks about DOGE has not yet explained why the logo of the social media platform has changed.
In context, the purpose of a group of engineers creating DOGE in 2013 was purely as a joke and deliberately wanted to play Bitcoin (BTC), which is the largest and oldest digital asset. But then it became a phenomenon when Elon Musk expressed his support for the crypto.
The Chief Executive Officer (CEO) of Tesla and Twitter who always promote DOGE has been the reason why the memecoin has seen a positive performance following investors starting to believe in the digital asset.
It is understood that Musk and investor Mark Cuban said that DOGE in the future could be used as one of the important uses of crypto for payments.
