A “Dogefather” more convinced than ever? In the last few days, we learned that Elon Musk was summoned to court, accused of having tried to influence the price of Dogecoin (DOGE). But the billionaire does not seem worried, as he says he will continue to support memecoin.
What’s wrong with Elon Musk?
Last week, a plaintiff, Keith Johnson, filed a lawsuit in federal court in Manhattan. The man claimed that Elon Musk had abused his position to influence the price of Dogecoin, claiming a hefty sum – $258 billion in damages.
It must be said that the billionaire has been particularly vocal about DOGE in recent months, to the point where some were predicting legal problems of this kind. Clearly enjoying posting cryptic tweets on the subject, he displays unwavering support for memecoin, which he plans to integrate into some of Tesla and SpaceX’s services.
Elon Musk had also admitted that he wanted to boost the cryptocurrency’s price, as he said last July:
“Okay, I pump sometimes, but I don’t dump. I really don’t believe in driving up the price and then selling. “
Elon Musk reaffirms his support for Dogecoin
Still, this is precisely what he has been accused of informally for several months, and now formally thanks to this subpoena. But the Tesla boss does not seem particularly worried by this case. He tweeted yesterday that he would continue to support Dogecoin:
I will keep supporting Dogecoin
– Elon Musk (@elonmusk) June 19, 2022
The tweet elicited the usual thousands of replies, including one asking Elon Musk to continue buying Dogecoin. A request to which he replied in the affirmative:
I am
– Elon Musk (@elonmusk) June 19, 2022
Musk’s stance is not entirely a surprise, given his historical lightness when it comes to responding to accusations of “pump and dump”. But could this court case become a thorn in the side of the billionaire? For his finances, it will undoubtedly be a pittance. But it could mark a turning point for Dogecoin.
