Dogecoin Soars 3% in Just 15 Minutes Following Elon Musk’s Scooby-Doo Meme

Elon Musk’s recent Scooby-Doo meme featuring the popular cartoon character compared to historical philosophers has caused a surge in the price of Dogecoin (DOGE). Musk’s post led to a 5.6% increase in the price of DOGE within hours, with a market cap spike of approximately $320 million. However, Musk has faced accusations of market manipulation and profiting from the digital asset. Last year, he was hit with a class action lawsuit claiming that he used his Twitter account and other methods to inflate DOGE’s price before selling it. The plaintiffs also alleged that Musk sold hundreds of millions of dollars worth of DOGE after changing Twitter’s logo to Dogecoin’s Shiba Inu dog. However, Musk’s attorney argues that the evidence against him is circumstantial and that he was not associated with the wallets that sold DOGE. As of now, DOGE’s price has stabilized and is trading at $0.708.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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