Dogecoin [DOGE] exists as Twitter bird makes a comeback

Twitter has removed the Dogecoin [DOGE] logo just days after giving it the position of the famous bird. The sudden removal has resulted in the coin’s price moving south in the crypto market. According to CoinMarketCap, Dogecoin registered a slump of over 6% in the past hour, with the coin trading at $0.08595, at press time. The coin had a trading volume of over $1 billion in the past day and was still trading in green in the seven-day calendar with an uprise of over 15%.

Dogecoin [DOGE] price chart | Source: CoinMarketCap

Dogecoin leans towards buyers

Notably, the recent update has increased the long position on the coin, according to the one-hour chart on Coinglass. The exchange long/ short ratio was 1.05, with buyers holding a 51.13% position and short sellers holding a 48.87% position.

Dogecoin’s Shiba Inu featured on Twitter

The coin, which features the face of a Shiba Inu dog, witnessed its price jump in the market on Monday after Elon Musk’s Twitter made it its logo. The change was made on both the website and mobile application. On the sudden change, Elon Musk referred to a conversation he had with fellow Twitterati back in March 2022. The user suggested Musk buy Twitter and change the logo to Doge. In a recent Tweet, Musk said,

As promised pic.twitter.com/Jc1TnAqxAV

— Elon Musk (@elonmusk) April 3, 2023

The story is still developing.

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