{"id":314810,"date":"2023-04-04T10:15:52","date_gmt":"2023-04-04T09:15:52","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=314810"},"modified":"2023-04-04T10:08:57","modified_gmt":"2023-04-04T09:08:57","slug":"dogecoin-overtakes-cardano-after-twitter-goes-doge-crazy","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/dogecoin-overtakes-cardano-after-twitter-goes-doge-crazy\/","title":{"rendered":"Dogecoin overtakes Cardano after Twitter goes doge-crazy"},"content":{"rendered":"

Dogecoin flips Cardano for seventh ranking<\/a> after Twitter replaced its homepage logo with a doge.<\/p>\n

Dogecoin soars on Twitter logo replacement<\/h2>\n

On March 3, Twitter incorporated<\/a> a doge on its load screen \u2014 also replacing its blue bird homepage logo with the iconic picture.<\/p>\n

The chart below shows that the ensuing buying frenzy kicked off at 18:30 (BST) \u2014 prompting a 24% spike in the 30-minute candle. Momentum took the coin as high as $0.1047, marking a 17-week high.<\/p>\n

Profit-taking since the local top saw a dip that bottomed at $0.0891. Nonetheless, the move was enough to overtake Cardano as the seventh-largest cryptocurrency by market cap.<\/p>\n

\"Dogecoin
Source: DOGEUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

The trough-to-peak move added $3.4 billion to Dogecoin's market cap. Despite the subsequent price dip, DOGE has managed to retain the majority of the gains. Its current $13.65 billion market cap marginally edges above Cardano's $13.58 billion valuation.<\/p>\n

Amid a generally flat market, Dogecoin leads the 24-hour gainers \u2014 gaining 25% over the period. The next biggest is Injective (INJ,) having recorded 8% gains over the same period.<\/p>\n

Critics blast the move<\/h2>\n

Following Elon Musk's Twitter purchase in October 2022, rumors circulated of a crypto integration<\/a>. However, by January, the social media giant poured cold water on the rumors.<\/p>\n

Twitter said it was exploring how to incorporate digital payments, including acquiring relevant regulatory licensing \u2014 adding that crypto functionality may come later.<\/p>\n

It's unclear whether Monday's stunt indicates coming crypto integration. Musk has posted several tweets in response to the move, including a meme<\/a> on the blue bird being “an old photo”.<\/p>\n

However, at face value, it seems like the move was motivated by a conversation with @WSBChairman<\/span>, who suggested the change.<\/p>\n

\"Elon
Source: @elonmusk on Twitter.com<\/a><\/figcaption><\/figure>\n

Referencing past run-ins Musk has had with regulators, as well as the current Operation Chokepoint 2.0 situation, Ivan on Tech<\/a> sarcastically called on the SEC to take action.<\/p>\n

However, taking a more serious tone, Brad Mills<\/a> blasted Musk for promoting “degenerate get-rich-quick crap<\/span>” over Bitcoin.<\/p>\n

“Elon is contributing to financial illiteracy & wealth inequality.<\/span>“<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Dogecoin flips Cardano for seventh ranking after Twitter replaced its homepage logo with a doge. Dogecoin soars on Twitter logo replacement On March 3, Twitter incorporated a doge on its load screen \u2014 also replacing its blue bird homepage logo with the iconic picture. The chart below shows that the ensuing buying frenzy kicked off […]<\/p>\n","protected":false},"author":460,"featured_media":314828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,107,77032],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\nDogecoin overtakes Cardano after Twitter goes doge-crazy<\/title>\n<meta name=\"description\" content=\"Dogecoin jumps to a 17-week high after Twitter changed to a doge homepage logo \u2014 sparking rumors of crypto integration.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/dogecoin-overtakes-cardano-after-twitter-goes-doge-crazy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin overtakes 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