Dogecoin Jumps as Musk’s Twitter Flips Logo to Shiba Inu Dog

A photo of Elon Musk is displayed on a smartphone placed on representations of cryptocurrency dogecoin in this illustration taken June 16, 2022. (Reuters)
A photo of Elon Musk is displayed on a smartphone placed on representations of cryptocurrency dogecoin in this illustration taken June 16, 2022. (Reuters)
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Dogecoin Jumps as Musk’s Twitter Flips Logo to Shiba Inu Dog

A photo of Elon Musk is displayed on a smartphone placed on representations of cryptocurrency dogecoin in this illustration taken June 16, 2022. (Reuters)
A photo of Elon Musk is displayed on a smartphone placed on representations of cryptocurrency dogecoin in this illustration taken June 16, 2022. (Reuters)

Dogecoin's Shiba Inu dog replaced Twitter's blue bird as the social media company's logo on Tuesday, helping the meme coin add as much as $4 billion to its market value.

The token, born as a satire of a cryptocurrency frenzy in 2013 and has no fundamental use, surged to 10 cents around 1500 EST from 7 cents as Elon Musk indicated in a tweet on Monday he had delivered on his promise of changing the social media app's logo to dogecoin's dog.

With a market capitalization of $13.7 billion, dogecoin is now the seventh biggest cryptocurrency, according to data site CoinMarketCap.com. Its market value stood at around $10 billion before the news.

Musk, who is ranked as the second-richest person in the world by Forbes, is a vocal proponent of cryptocurrencies and has heavily influenced prices for dogecoin and bitcoin in the past.

The Tesla boss on Friday asked a US judge to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support dogecoin.

Dogecoin more than doubled in October after Musk, dubbed "the dogefather" by retail traders, sealed a $44 billion deal to take over Twitter in October.

The shiba inu token, a spinoff of dogecoin which trades in fractions of cents, rose 5.6% to $0.000014.



AlUla to Host First 'Instagram Creators Summit' in MENA

Throughout the summit, content creators will experience AlUla's natural beauty and rich legacy. SPA
Throughout the summit, content creators will experience AlUla's natural beauty and rich legacy. SPA
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AlUla to Host First 'Instagram Creators Summit' in MENA

Throughout the summit, content creators will experience AlUla's natural beauty and rich legacy. SPA
Throughout the summit, content creators will experience AlUla's natural beauty and rich legacy. SPA

Saudi Arabia’s AlUla is set to host the first-ever “Instagram Creators Summit” in the Middle East and North Africa (MENA) next week.

The event will take place on April 20-22, organized by Meta in partnership with the Royal Commission for AlUla, and in collaboration with the Saudi Tourism Authority and Riyadh Air.

The groundbreaking summit is the first of its kind in the region and will bring together leading content creators from around the world. The agenda includes interactive panel discussions, keynote speeches, and conversations about the future of content creation, covering topics such as social media, artificial intelligence, and the evolving digital landscape.
These creators collectively reach over 231 million followers worldwide, highlighting the growing importance of influencer marketing in today’s travel destinations.
Interactive dialogues will allow participants to engage directly with Meta’s product managers, while open forums will encourage the sharing of expertise and the building of strong collaborations among creators.
This summit presents an exceptional opportunity to gain insights, connect with industry leaders, and stay at the forefront of the ever-changing digital scene.
AlUla will also showcase its unique vision of blending cultural heritage preservation with digital innovation through discussions on safeguarding cultural identity amid rapid digital transformation. AlUla continues to demonstrate its unique ability to evolve while remaining rooted in its past—a city renewed through time, where heritage and innovation progress together.
Throughout the summit, content creators will experience AlUla's natural beauty and rich legacy, spanning over 200,000 years of human history and 7,000 years of continuous civilizations. Participants will also explore iconic archaeological landmarks such as Hegra, the first UNESCO World Heritage Site in Saudi Arabia, AlUla Old Town, and Madrasat Addeera—a hub for crafts, culture, and creativity in the AlJadidah Arts District.