Elon Musk Discloses Why Rebranding Twitter To X Is Crucial & Impact Of Shiba Inu Dog

Elon Musk has officially rebranded Twitter to X as it was acquired by X Corp, a subsidiary of X Holdings. Elon Musk, CTO of X, explains this is not simply a corporate name change but a company improving its products and services, as well as changing its vision. In a separate post, he said we tried rebranding to a Shiba Inu dog, but “No impact.”

Elon Musk on Twitter Name Change to X Despite Brand Value

CTO Elon Musk on July 25 responded to a post on companies changing their names. Musk explained that Twitter was acquired by X Corp earlier to ensure freedom of speech and as an accelerant for X, the everything app. He argues this is not a simple name change by a company but introducing many changes.

“The Twitter name made sense when it was just 140 character messages going back and forth – like birds tweeting – but now you can post almost anything, including several hours of video.”

In addition, he revealed his future plans for X. The company aims to add comprehensive communications and finance and payments-related services to the app. He argues that the name “Twitter” doesn’t match his plans, “so we must bid adieu to the bird.”

He also replied to another post by a user saying that even if the company changes the name to a donkey, he would still scroll for hours. Elon Musk said we tried rebranding to a Shiba Inu dog for a while, but it didn’t have any impact.

We rebranded to a Shiba Inu dog for a while. No impact.

— Elon Musk (@elonmusk) July 25, 2023

Also Read: Crypto Asset Funds Record First Week Of Outflow, Institutions Selling Bitcoin?

Dogecoin Price Skyrockets

While it has no impact on the company, Elon Musk’s favorite crypto Dogecoin (DOGE) is skyrocketing. It followed after Musk added Dogecoin logo to his bio.

DOGE price jumped 10% in the last 24 hours, with the price currently trading at $0.077. The 24-hour low and high are $0.071 and $0.077, respectively. Furthermore, the trading volume has increased by 500% in the last 24 hours, indicating an interest among traders.

Also Read: Binance and Chief CZ Proceed for the Dismissal of the CFTC Lawsuit

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.