Analysis of Google search data reveals that searches for Dogecoin have surged 1,992 percent worldwide over the last seven days after Elon Musk changed Twitter’s bird logo to Dogecoin’s Shiba Inu on Monday, 3rd April.
The analysis, by 6Takarakuji, reveals that searches for ‘Dogecoin’ exploded by 1,992 percent above the average volume in the last seven days after the Twitter logo changed to a Shiba Inu on many users’ devices.
This is an increase of over 20 times the search interest compared to average levels over the last seven days. The change caused buying interest to surge overnight, as searches for ‘buy Doge’ and ‘buy Dogecoin’ soared by 1,044 and 253 percent, respectively.
Dogecoin’s price has jumped more than 30 percent and temporarily overtook Cardano to be ranked the seventh most valuable cryptocurrency by CoinMarketCap.com
Though famously associated with Dogecoin, Musk’s Twitter logo change also caused searches for ‘Shiba Inu coin’ to surge by 132 percent.
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Google searches for ‘Twitter’ have leaped over the last seven days, rising 38 percent as users noticed the change and media outlets reported it.
Google Trends data shows that almost three-quarters (72 percent) of the 25 highest-trending searches relating to Twitter over the last seven days regard the logo change, which has created a buzz among internet users.
But many users unfamiliar with Dogecoin have been left confused by the image change. ‘Why is there a dog on Twitter,’ ‘Twitter dog logo’ and ‘Twitter logo change’ are among the top trending searches.
Why Has The Twitter Logo Changed?
In March 2022, a user suggested that Musk buys Twitter and changes the bird logo to a doge. Elon responded with approval. Musk has now tweeted a screenshot of that conversation with the caption ‘as promised.’
Elon Musk is famously associated with the coin and is among its most high-profile investors. Last year, Musk announced that Tesla will accept Dogecoin payments for its products. He is accused of intentionally inflating the coin’s price and faces a $258 billion racketeering lawsuit by cryptocurrency investors who describe it as a ‘pyramid scheme.’
A spokesperson at 6Takarakuji commented on the findings:
“After removing Twitter’s iconic bird logo, the effects of his actions are evident in the surge of user interest in Dogecoin, as investors rush to buy Doge to catch any potential yields while the price shoots up. But how long will it last? That could depend on how long Twitter keeps its new logo and if users find the joke funny for long enough.”
