The post Is Elon Musk a Dogecoin Whale? Did Musk Sell 1.4 billion worth of DOGE? appeared first on Coinpedia Fintech News
A lawsuit worth $258 billion claims that Tesla’s Elon Musk played a part in a massive Dogecoin pyramid scheme. This revelation has sent shockwaves through the cryptocurrency community and sparked a legal battle. Cryptocurrency influencer Keyur Rohit took to his Twitter handle and explained via a long thread about the lawsuit.
The court documents reveal that Musk allegedly sold a staggering 1.4 billion Dogecoins, amounting to over $124 million, over a two-day period in April. These sales coincided with a Twitter event that gave Dogecoin significant attention, leading to a surge in its popularity. The lawsuit suggests that Musk’s actions were part of a plan to manipulate the market and artificially inflate Dogecoin’s price, causing harm to investors.
Musk’s lawyer has strongly denied the allegations, stating that they lack any basis or merit. The defense argues that Musk’s involvement with Dogecoin has always been transparent and driven by his playful approach to cryptocurrency. “Musk’s lawyer vehemently denies these allegations, calling them baseless and without merit,” he said.
Musk, known as the “Dogefather” among Dogecoin enthusiasts, often tweets and jokes about the digital asset, creating excitement and speculation within the community. He wrote on Twitter, “The courtroom drama is set to unfold as the judge determines the truth behind Musk’s alleged involvement with #Dogecoin!”
Musk’s tweets have been known to cause fluctuations in cryptocurrency markets, a phenomenon referred to as the “Musk effect.” This has fueled speculation that Musk may secretly hold a good amount of Dogecoin, making him the mysterious “Dogecoin whale” that many have speculated about.
A group of Dogecoin investors has accused Musk of manipulating the market. They claim that his influential position and massive social media following enable him to sway public opinion, thereby boosting the price of Dogecoin.
As Musk’s alleged market influence comes under scrutiny, investors can turn to ACTS Token for a more balanced and sustainable investment approach. By placing emphasis on clarity and reliable performance, ACTS Token sets itself apart from the uncertainties associated with market manipulation and social media speculation.
Read More The post Is Elon Musk a Dogecoin Whale? Did Musk Sell 1.4 billion worth of DOGE? appeared first on Coinpedia Fintech News.
A lawsuit worth $258 billion claims that Tesla’s Elon Musk played a part in a massive Dogecoin pyramid scheme. This revelation has sent shockwaves through the cryptocurrency community and sparked a legal battle. Cryptocurrency influencer Keyur Rohit took to his Twitter handle and explained via a long thread about the lawsuit. The court documents reveal …
