• Elon Musk denies allegations that he was the mysterious DOGE whale who made $124 million in profits after Dogecoin’s bull run.
• A class-action lawsuit has been filed against Elon Musk for engaging in market manipulation and insider trading.
• Elon Musk also called out the “Explain This Bob” AI bot linked to the $BOB memecoin, and Twitter suspended it shortly after.
Musk Denies Owning Dogecoin
Elon Musk refutes claims that he’s the mysterious DOGE whale behind a class-action lawsuit alleging he engaged in market manipulation and insider trading with 1.4 billion Dogecoins (DOGE), worth $124 million at the time of the transaction. The bull run was spurred by his takeover of Twitter and the logo switch to Shiba Inu, Dogecoin’s mascot. At press time, DOGE is changing hands at $0.062 according to CoinGecko, with 1% weekly gains hovering above its long-term support line since October 25th, 2022.
Lawsuit Against The Innovator
The ongoing class-action lawsuit against innovator Elon Musk continues as defense attorney Alex Shapiro refuted allegations that his client engaged in market manipulation and insider trading with 1.4 billion Dogecoins (DOGE). According to the lawsuit filed in Manhattan, The Dogefather sold off a colossal amount of tokens right after the Twitter logo switched to Shiba Inu, resulting in a massive bull run which pushed DOGE price close to $0.10 for first time since before Elon’s Twitter takeover. However, Musk maintains that this individual was not him despite allegations by plaintiffs accusing him of taking part in a “deliberate course of carnival barking” referring to his public endorsement of Dogecoin on CNBC’s Saturday Night Live Show and social media memes featuring dogs during this period.
Musk Tanks Memecoin
Elon Musk stirred up crypto pot on Twitter by calling out the “Explain This Bob” AI bot linked to memecoin $BOB . He concluded that “this sure looks like a scam crypto account” leading to its suspension by Twitter shortly after; tanking memecoin values by 35%. Affected by this move, memecoin later recovered some losses with a 10% spike having accumulated over 400K followers before being banned due its use of ChatGPT algorithms similar to Crypto Twitters crafting answers feature.
Crypto News Recap
At press time #Dogecoin is changing hands at $0.062 according CoinGecko with 1% weekly gains while hovering above its long-term support line since October 25th last year; meanwhile #ElonMusk has denied allegations of owning #Dogecoin wallets connected to insider trading amid an ongoing class action lawsuit following his call out of „Explain This Bob“ AI bot associated with memecoin $BOB which resulted in its suspension from twitter letting prices dip by 35%.
Conclusion
In conclusion, it appears that Elon Musk has denied claims he is connected with any kind of insider trading or market manipulation involving Dogecoins despite ongoing lawsuits against him for alleged misconduct related activities within cryptocurrency space; additionally he called out an AI bot associated with another memecoin resulting in its suspension from twitter causing immediate dip in prices but also followed up with recovery once news spread about its banning..