Dogecoin spikes 36% after Twitter icon update

KATHMANDU: Elsewhere, Dogecoin spiked nearly 36% Monday to peak at 10.46 cents per token after Elon Musk’s Twitter replaced the homepage bird icon to a Shiba Inu, the mascot for the Dogecoin cryptocurrency.

Musk has repeatedly touted Dogecoin and shared various memes supporting the cryptocurrency. His public support resulted in a $258 billion racketeering lawsuit last June for allegedly running a pyramid scheme to pump the price of the meme coin.

DOGE coin slid back near 9 cents late Monday and traded around 7.7 cents prior to the logo update.

On March 14, the U.S. government sold 9,861 bitcoin that were seized in connection with black market website Silk Road for a total of $215.7 million.

The government plans to liquidate the remaining 41,490 bitcoin in four batches over the remainder of the year, according to a Friday court filing.

Last Monday, the Commodities Futures Trading Commission sued Binance, the world’s largest crypto exchange, and CEO Changpeng Zhao for trading violations.