Elon Musk has taken to Twitter to publicly say that he’s nonetheless a giant supporter of the meme cryptocurrency Dogecoin.
The tweets from Musk come simply after experiences surfaced that exposed a person has filed a lawsuit in opposition to Musk, Tesla, and SpaceX that declare all three had been concerned in a racketeering scheme that manipulated the worth of Dogecoin. The lawsuit claimed that Musk “falsely and deceptively declare that Dogecoin is a reputable funding when it has no worth in any respect,” and went on declare that Dogecoin has no inherent use and is a type of playing.
Musk took to his private Twitter account to jot down that he nonetheless helps Dogecoin, which was met with a reply from Altcoin Gordon, who wrote, “Maintain shopping for it then.” Musk shortly responded with, “I’m“, indicating that the billionaire is choosing up some Dogecoin on the approximate present worth ($0.058c).
Notably, the tweet from Musk did not trigger a spike in Dogecoin’s worth as it might have when the cryptocurrency market was bullish and far more consideration was on it. Moreover, the worth of Dogecoin has continued to drop from $0.41c in June 2021, a pointy 91% decline from its all-time excessive of $0.73.
Previously, Musk has mentioned that he’s working with the builders of Dogecoin to deliver it extra worth by bettering its community. The billionaire additionally mentioned that he will probably be accepting it as a type of cost someday sooner or later for each SpaceX and Tesla.
Learn extra: Has Elon Musk sold his Bitcoin, Dogecoin, or Ethereum?
The person suing Musk has mentioned that he intends to characterize different Dogecoin buyers who really feel they’re a sufferer of unlawful actions. The plaintiff is suing for $86 billion in damages, paired with triple damages of $172 billion, equating to $258 billion, and should show the digital foreign money has no use, which can be arduous extraordinarily contemplating the work that has been completed on the community.
