Elon Musk Reflects On Twitter's Dogecoin Meme Rebrand Amid Bird App Makeover: 'No Impact'
Portfolio Pulse from Benzinga Neuro
Elon Musk, CEO of Tesla and owner of X Corp, commented on Twitter's temporary rebranding to a Shiba Inu dog, the mascot of Dogecoin, stating it had no significant impact. This follows a previous incident where Dogecoin's logo replaced Twitter's icon, causing Dogecoin's price to surge over 20% in 30 minutes. Musk is currently facing a $250-million lawsuit alleging he used a pyramid scheme to inflate Dogecoin's price.
July 25, 2023 | 7:41 am
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NEUTRAL IMPACT
Elon Musk's comments on Twitter's Dogecoin rebranding and the ongoing lawsuit could potentially affect Dogecoin's price.
Elon Musk's comments and actions have previously shown to have a significant impact on Dogecoin's price. The ongoing lawsuit alleging price manipulation could also affect the cryptocurrency's price.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Elon Musk's comments on Twitter's Dogecoin rebranding and the ongoing lawsuit could potentially affect investor sentiment towards Tesla.
While the news is not directly related to Tesla's operations, Elon Musk's actions and legal issues can influence investor sentiment towards the company he leads.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50