Musk said that he would continue to support Dogecoin.
Elon Musk, the world’s richest man, said that he would continue to support Dogecoin. When a user said that then shopping should continue in this currency, in response Musk said that they are doing so.
For some time now cryptocurrencies (Cryptocurrency) is showing a significant decline. According to the data available on the website of Coin Market Cap, at 12.45 pm, Bitcoin is $ 21,000, Ethereum $ 1152, Tether $ 0.99, BNB $223 and Dogecoin (Dogecoin) Was trading at $0.0617 level. Meanwhile, the world’s richest man Elon Musk (Elon Musk) said that he would continue to support Dogecoin and keep buying it. Here, Dogecoin investors have filed a case accusing Elon Musk of a $258 billion pyramid scheme.
A case was registered against him last week. On June 19, he tweeted that he would continue to support Dogecoin. On this a user said that then shopping should continue in it. In response, Musk said that I am doing it. Musk has been booked by investors for helping cryptocurrencies with the help of a pyramid scheme. Dogecoin was initially viewed as a joke, but due to Musk’s constant tweets and endorsements, its market cap is currently $81.83 billion.
I will keep supporting Dogecoin
— Elon Musk (@elonmusk) June 19, 2022
Cheating with Dogecoin Crypto Pyramid Scheme
US citizen and crypto investor Keith Johnson has filed a case against Musk in a New York court. He alleges that he has been cheated with the help of the Dogecoin crypto pyramid scheme. Dogecoin co-creator Billy Marcus said last week that this currency should be used better. Recently, Musk announced that Tesla’s car can be bought with the help of cryptocurrency. Later this proposal was withdrawn. From time to time, Elon Musk supports Dogecoin by tweeting.
I am
— Elon Musk (@elonmusk) June 19, 2022
Dogecoin Identified as Parody Cryptocurrency
Dogecoin is known as a parody cryptocurrency in the cryptocurrency world. Software engineers Billy Marcus and Jackson Palmer launched this digital currency in the year 2013. Since then only memes are being made about this currency, but its market cap is increasing continuously.
$86 billion in damages
Here Keith Johnson has alleged damages of $ 86 billion in the pyramid scheme case. He says that since May 2021, the value of this currency is continuously declining, due to which he has suffered a lot. They demand that Elon Musk and Tesla should be stopped from promoting Dogecoin. Apart from this, dogecoin trading should be included in the gambling category according to New York law.
It was announced to accept bitcoin in February 2021
It was in February 2021 when Elon Musk said that Tesla’s car could be bought with the help of bitcoin. He said at the time that he had $1.5 billion worth of bitcoins. For some time Tesla continued to accept payments in bitcoin. Later it was stopped.
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