Dogecoin has solely not too long ago develop into standard and accepted, though it has existed longer than most main cryptocurrencies. Lately, DOGE has attracted the eye of GenZ, millennials and anybody all for crypto. Elon Musk, one of many richest on the earth, turned cheerleader and was instrumental in boosting DOGE’s adoption fee. After DOGE made its presence felt out there, it was caught by way of worth. Musk remained a fervent supporter of the asset and has now been requested about its value. is it truthful

The crypto market and volatility go hand in hand. The extremely unstable market has seen a number of surges which have made many millionaires. In the meantime, heavy dumps have additionally induced individuals to lose hundreds of thousands without delay. Constructing on this, one individual determined to name Dogecoin a pyramid scheme and accused Musk of getting concerned.

This hypothesis led to a lawsuit in opposition to Musk for a whopping $258 billion. Musk acquired assist from the Dogen neighborhood, and even the co-founder of the meme foreign money offered instances of different issues that might be a pyramid scheme.

Billy Markus, who additionally comes over Shibetoshi NakamotoShe took to Twitter and known as out the most recent lawsuit. He famous that if Dogecoin had been one, your complete crypto market, inventory market, and housing market, together with the financial system itself, might be a pyramid scheme.

If Dogecoin is a pyramid scheme, so is your complete cryptocurrency market, the inventory market, the true property market, the commodity market, and the financial system itself.

Let’s sue Alexander Hamilton.

— Shibetoshi Nakamoto (@BillyM2k) June 19, 2022

He added jokingly that he was suing the founding father of the USA, Alexander Hamilton.

Elon Musk and Dogecoin perpetually?

A number of neighborhood members shared their opinions about the entire occasion. Some centered on the worth of the asset and failed to succeed in the $1 milestone; others had been optimistic about Musk’s assist of Dogecoin. Nonetheless, the neighborhood expressed confusion and indicated that Musk now not desires to be related to the token.

As anticipated, Musk stood his floor and maintained his assist for the OG meme crypto. He took to Twitter to verify this identical,

I’ll proceed to assist Dogecoin

— Elon Musk (@elonmusk) June 19, 2022

The neighborhood was relieved to see this and Dogecoin noticed its worth improve by virtually 6%. DOGE was altering palms at $0.0585 at press time.

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