Elon Musk Displays More Support For Dogecoin Despite The Lawsuit Filed Against Him

Despite the lawsuit against Elon Musk for promoting Dogecoin, He said is not giving up on Doge.

He made this known on his Twitter page. The centibillionaire made it known that he is buying more Doge. Just as a means of showing love for Dogecoin after wishing his followers a happy Father’s day.

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According to the Binance exchange, the price of the Bitcoin parody soared by nearly 13% on the Binance exchange because of Musk’s tweets. DOGE hit an intraday high of $0.05877.

Elon Musk, the Dogefather

As initially reported how Musk dubbed himself  “The Dogefather” ahead of his “Saturday Night Live” hosting debut that took place in early May 2021 in a nod to “The Godfather,” one of the greatest movies of all time starring Hollywood legend Marlon Brando.

The meme cryptocurrency has now declined by  92.33% from its record peak of $0.73, becoming one of the worst-performing altcoins after bringing massive returns for its early investors. Dogecoin price action has not even shown any impact of Elon’s support.

Read Also: DOGE Enters The List Of Coins With The Highest Trading Volume: WhaleStat

A few weeks ago, Elon Musk said Tesla Merchandise can now be purchased using the meme-coin, with the use of Dogecoin as a payment option for SpaceX merch to be integrated soon.

More also, Tesla CEO Elon Musk has once floated the idea of making it possible for a Twitter Blue subscription with the Dogecoin cryptocurrency.

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Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you're a seasoned investor or just starting out, Cryptolifedigital's analysis offers valuable insights into the world of cryptocurrency.
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