Not even a $258 billion lawsuit can stop Elon Musk from publicly expressing his support for Dogecoin. The richest man in the world expressed his love for the Dogecoin ecosystem with a tweet that read, “I will continue to support Dogecoin.”
Class-action lawsuit against Musk
On June 16, the billionaire, along with his companies SpaceX and Tesla, was indicted for his “participation” in a crypto pyramid scheme with Dogecoin. The lawsuit sought $258 billion in damages from Musk. The court was also requested to consider trading Dogecoins as gambling in the United States.
Actually, nobody in the crypto world takes the lawsuit seriously, though. And Musk isn’t apparently upset by the allegation, either. He just tweeted again that he will continue to support the Dogecoin.
Elon Musk continues to buy Dogecoin
The unconditional support of Elon Musk has done the Dogecoin price well today. The Tesla CEO even confirmed on Twitter today that he is still buying DOGE tokens and that is a very good sign for Dogecoin fans.
Immediately after Elon Musk announced that he would continue to buy DOGE tokens, the price rose. At the time of writing, the price of 1 Dogecoin is around $0.05833. That’s about 7 percent higher than a day ago.