Exclusive Content:

Ultimate Guide to Istanbul Top Attractions, Packed in One Weekend

I understand how that could positively effect your body,...

Easy Food Survey: Pizza Voted As One of the Most Satisfying Meals Ever

I understand how that could positively effect your body,...

Best Places to Get Your Mexican Food Fix When You Visit Mexico City

I understand how that could positively effect your body,...

I’ll keep supporting Dogecoin, Elon Musk says amid $15.28bn dip

World’s richest man, Elon Musk, has thrown his weight behind cryptocurrency, Dogecoin, following a slump in the cryptoasset, which has led to a $258 billion lawsuit filed by one investor, Keith Johnson.

Musk made this known on Sunday via his Twitter account, adding to his numerous public support for Dogecoin, which he has been promoting on the social media platform since 2019.

He also hinted that he was still buying the cryptocurrency amid the dip.

Dogecoin, which is the 10th most valuable cryptocurrency, has depreciated by -66.07% year-to-date, with the value plummeting to $0.05784, as at the time of filing this report, far from the $0.1705 it sold for at the start of January.

Within the last six months, Dogecoin has lost $15.28 billion in market capitalisation, which now stands at $7.67 billion, in contrast to the $22.95 billion the crypto was reported to hold early this year.

Ripples Nigeria had reported that following the slump, Johnson, on behalf of other Dogecoin investors, sued Musk, Tesla and SpaceX on June 15, stating that the billionaire shouldn’t be allowed to continue marketing the cryptoasset, as it was a fraud.

Johnson said Musk, and his companies are backing a pyramid scheme (Dogecoin), and this has led to a loss of $86 billion since 2019 for investors who poured their money into Dogecoin. He asked the court to order the billionaire to compensate him and other investors in two tranches; $86 billion and $172 billion due to losses incurred on the investment.

Musk seems, however, unperturbed by the lawsuit, taking to Twitter on Sunday, three days after Johnson filed the legal action, to state, “I will keep supporting Dogecoin.” and when asked to keep buying by one of his followers, he responded, “I am”.

On April 2, 2019, the billionaire declared, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.”

Musk has previously disclosed that Tesla and SpaceX merch can be bought with Dogecoin, and last week, he hinted that more items might be added.

Latest

Discover the Newest Waterproof and Fast Smartphones that Come on Sale

I understand how that could positively effect your body,...

New Small Speaker Review: Pricing is Not Always the Only Criteria

I understand how that could positively effect your body,...

Apple Electronics Climb the List of the Top Gadgets in Forbes Magazine

I understand how that could positively effect your body,...

Technology Will Help Keep Your Home from Becoming Obsolete

I understand how that could positively effect your body,...

Newsletter

spot_img

Don't miss

Discover the Newest Waterproof and Fast Smartphones that Come on Sale

I understand how that could positively effect your body,...

New Small Speaker Review: Pricing is Not Always the Only Criteria

I understand how that could positively effect your body,...

Apple Electronics Climb the List of the Top Gadgets in Forbes Magazine

I understand how that could positively effect your body,...

Technology Will Help Keep Your Home from Becoming Obsolete

I understand how that could positively effect your body,...

Things to Look For in a Financial Trading Platform Environment

I understand how that could positively effect your body,...
spot_imgspot_img

Discover the Newest Waterproof and Fast Smartphones that Come on Sale

I understand how that could positively effect your body, but alchemizing means turning elements to gold basically through magic. That lead me to research...

New Small Speaker Review: Pricing is Not Always the Only Criteria

I understand how that could positively effect your body, but alchemizing means turning elements to gold basically through magic. That lead me to research...

Apple Electronics Climb the List of the Top Gadgets in Forbes Magazine

I understand how that could positively effect your body, but alchemizing means turning elements to gold basically through magic. That lead me to research...

LEAVE A REPLY

Please enter your comment!
Please enter your name here