Elon Musk said he was still buying Dogecoin and jumped into a falling market
With a tweet, he started the cryptocurrency market again
In the midst of a global market that is falling in both the stock market and cryptocurrencies, Elon Musk manages to … shake it with a tweet.
At a time when the cryptocurrency market is experiencing the effects of the “bear market” with a market capitalization of close to $ 830 billion , the founder of Tesla and SpaceX has shown his confidence and support for Dogecoin .
The cryptocurrency with which Musk has been associated in the past made a small jump of 8% while all other cryptocurrencies plunge lower and lower, with its value reaching $ 0.058.
Of course, this jump has nothing to do with the 72 cents that Dogecoin’s value had reached in May 2021, when Elon Musk had made a brief reference to it in his opening monologue on Saturday Night Live .
At the same time, however, a Dogecoin investor is suing Musk for inflating the price of the cryptocurrency with the well-known pyramid scheme. He is seeking $ 258 billion in damages in a lawsuit filed by both Tesla and SpaceX. But then they changed tactics, leading to a free fall of Dogecoin, which Tesla once accepted as a method of payment.
It should be mentioned that Musk had recently got into an argument with the founder of Dogecoin, firing at him through Twitter.
