Elon Musk and his legal team have asked a US judge to dismiss a $258 billion lawsuit filed by investors in June 2022, who claimed that he ran a pyramid scheme to promote Dogecoin. Musk's lawyers argue that the claims are unfounded and unsupported by evidence, and that his tweets backing Dogecoin were lighthearted and often goofy remarks, far from being investment guidance. The investors argue that Musk's tweets and statements fueled a massive surge in Dogecoin's price before it plummeted, causing them to suffer considerable losses. They accuse Musk of exploiting his celebrity status and influence to manipulate Dogecoin's value. Musk's attorneys described the lawsuit as a "fantastical work of fiction" and implored the judge to dismiss it.

Elon Musk's lawyers have requested a Manhattan court to dismiss a $258 billion lawsuit filed by Dogecoin investors against the billionaire. Musk's lawyers described the lawsuit as a "fanciful work of fiction" and argued that Musk's accusers had failed to show how he intended to defraud anyone. Despite the lawsuit, Musk's support for Dogecoin remains strong, with data from Santiment indicating that addresses holding over 10M DOGE have accumulated 1.47B in coins since Jan. 1st. At press time, DOGE was trading at $0.079, up over 8% in the past 48 hours.

Nakamoto addressed he no longer has a direct role in the project's development or management.

Investors claim that he caused Dogecoin's value to skyrocket by over 36,000% within two years, only to let it plummet afterward.

Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin.

Burger King UK's tweet teasing the potential adoption of Dogecoin as a payment option has caused a surge in the cryptocurrency's price. As soon as the tweet went live, DOGE's value increased by 2.72% to reach $0.77, giving its proponents hope that it could finally break through the elusive $0.08 mark.

CFTC Sues Binance and CEO for Violating Trading Rules, Bitcoin and Ethereum Prices Dip; Binance Continues Global Expansion With New ‘Web3 Outpost’ in Georgia; Dogecoin To Get Upgrade Release Packed With New Features and Enhancements

Dogecoin is set to receive a major upgrade that will bring new features and enhancements to the popular cryptocurrency. The upgrade is expected to be released in the coming months and is part of a broader effort to improve the functionality and usability of Dogecoin.

Dogecoin Core Developer Michi Lumin has announced the release of libdogecoin 0.1.2, a significant upgrade to the popular meme cryptocurrency's blockchain.

The Dogecoin Foundation has released a major update to its libdogecoin toolset.

Dogecoin (DOGE) price has experienced a slight upward movement, bringing hope to its supporters amidst a tumultuous period for the cryptocurrency market. Earlier today, the meme-inspired digital currency has risen by 6%.

Elon Musk, American business magnate and CEO of Twitter, once again made an allusion to Dogecoin (DOGE), particularly mentioning, in a lighthearted tone, that a visit to Twitter headquarters would cost a total of 3 DOGE.

Litecoin was one of Thursday’s biggest gainers, as prices rose by as much as 13% in today’s session. This came despite the global crypto market cap shifting lower, down 1.65% as of writing. Dogecoin was also higher, as the meme coin rebounded from Wednesday’s losses.

Measured from the swing low at $0.0625, Dogecoin [DOGE] has made gains of close to 25% within the past five days. The sentiment across the crypto sphere was bullish following Bitcoin’s [BTC] sharp breakout past the $22k region on Monday.

Blockchain security firm, Halborn has detected several critical and exploitable vulnerabilities impacting more than 280 networks, including Litecoin (LTC) and Zcash (ZEC). Code-named “Rab13s,” this vulnerability has put over $25 billion of digital assets at risk.

Blockchain security Halborn says a vulnerability it found last year on the open-source codebase of the Dogecoin network is still present in at least 280 other networks, as per a Monday post.

Dogecoin fell to its lowest level since October, as cryptocurrency prices plunged during Friday’s session. Overall, the global crypto market cap dropped by nearly 9% today, which seems to have been triggered by yesterday’s liquidation of Silvergate bank. Litecoin has been another notable mover, falling by over 17%.

Prominent meme coins like Dogecoin [DOGE] and Shiba Inu [SHIB] traded in the red as the FUD triggered by the collapse of the crypto-friendly bank, Silvergate, continued to engulf the broader cryptocurrency market.