This entire week saw the world eagerly wait for the much anticipated takeover of Twitter by world¡¯s richest person Elon Musk. Just before the October 28th deadline, Elon Musk has finally completed the deal after a roller-coaster of around six months.
And how could Elon Musk¡¯s favorite memecoin stay away from the limelight amidst all this??
Amid anticipation of the $44 billion deal¡¯s expected closure, Dogecoin jumped nearly 41% this week, from opening at $0.05984 on Monday, to reaching the high point of $0.08476 yesterday, as per Dogecoin price data on Coinmarketcap. Its trading volume too, has been up around 11% in the pat 24 hours.
However, today its price is down around 4% at $0.074(at the time of writing this report).
Over the past few years, Elon Musk has been pretty vocal about his love for Dogecoin, which has been evident from the numerous tweets he had done in favour of the memecoin.
Even when the world's richest person was hit with a massive $258 billion lawsuit in June 2022 wherein a Dogecoin investor accused him of running a pyramid scheme to support the cryptocurrency, Musk still continued to support Dogecoin despite the lawsuit.
Here are some of his major tweets showcasing his love for his favorite memcoin.
Even American billionaire entrepreneur Mark Cuban had said last year that dogecoin is the 'strongest' cryptocurrency?as a medium of exchange.? ?
Plaintiff?Keith Johnson?believes Musk increased "the price, market cap and trading volume of Dogecoin" through his promotion of it. He included tweets from Musk, including one promising that SpaceX would "put a literal?Dogecoin?on the literal moon." He?would like Musk to reimburse investors this sum, plus pay double that in damages, i.e. an additional $172 billion, taking the total lawsuit sum to a whopping $258 billion.
He also reportedly wants to block Elon Musk and his companies from promoting?Dogecoin?and a judge to declare that trading Dogecoin is gambling under federal and New York law.
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