Dogecoin (DOGE) experienced a 10% surge on Tuesday following Elon Musk's rebranding of Twitter to "X" and his apparent connection of the platform to the popular dog meme. Musk shared an animated graphic of the new "X" logo, which was created by DogeDesigner, the UX/UI & Graphic Designer at Dogecoin & MyDoge Inc. Additionally, Musk added the Dogecoin symbol to his Twitter bio, alongside the X logo.

Following Musk's tweet, DOGE's value increased from $0.077 to $0.083 within just two hours and currently trades at $0.082, marking a 10% growth over the past 24 hours. This price pump is reminiscent of previous instances where Musk's statements or actions have influenced the memecoin's value. While some view Musk's public antics about DOGE as harmless, others have accused him of "insider trading" and using his followers as "prey."