From lawsuits to skyrocketing values, Elon Musk and Dogecoin have quite the history. His new Twitter logo prompted a 20% increase, proving the impact he has on the market. ElonMusk Dogecoin
, the value rose by as much as 30 percent in just over 30 minutes after the doge image was added to the Twitter site.
Promoting dogecoin hasn’t always gone well for Musk. Dogecoin investors have previously sued the Tesla CEO for over $258 billion, accusing him of running a pyramid scheme for “profit, exposure and amusement” by inflating the currency’s value with his promotional statements and then “letting it crash.” Just this past Friday, Musk’s lawyers filed a motion to dismiss the lawsuit, claiming that Musk’s promotion of the coin was both harmless and entirely legal.
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