In February of 2021, I noted that Dogecoin now boasted a market value of nearly $10.5 billion, “up 107% over the past seven days”.
What’s the latest?
It seems Elon Musk, SpaceX and Tesla Inc. have all been sued for $258 billion over claims they are part of a racketeering scheme to back the Dogecoin cryptocurrency.
A fellow by the name of Keith Johnson is seeking to represent “a class of people who have lost money trading in Dogecoin since April 2019. He is asking for $86 billion in damages, plus triple damages of $172 billion, as well as an order blocking Musk and the companies from promoting Dogecoin, and declaring that Dogecoin trading constitutes gambling under US and New York law.”
Right.
Good luck with that!
Dogecoin was trading at about 5 cents and is down about 67% this year. It spiked to as high as 74 cents last year before giving up those gains.
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