Testing of support for Dogecoin’s price as Musk persists with late Friday repeal to dismiss his case
Dogecoin (DOGE) has seen a drop in price following some volatile movements in the Asia-Pacific and European sessions. The dip was prompted by an announcement that could see a systemic risk for the cryptocurrency following a court ruling that recently spoke in favor of the US Commodity Futures Trading Commission’s view of cryptocurrencies and altcoins as commodities. Elon Musk, who is being sued for $258bn by investors who accuse him of pumping DOGE, asked for the claim to be thrown out based on his lawyers’ argument that DOGE is neither a commodity nor a security, which goes against the recent court ruling. This puts DOGE in the middle of a storm and, if the judge rules in Musk’s favor, the value of DOGE could drop by up to 20%.
(Visited 3 times, 1 visits today)