TECH NEWS – It’s OK that he’s trying cryptocurrency again (come on, last year, the graphics cards’ prices finally began to fall…), but maybe he’s overdoing it…

For example, we can also confirm the image in this tweet: Elon Musk, the owner of Twitter, has replaced the blue bird logo with the dog of Dogecoin. It is not a joke timed for April Fools’ Day (if he had done it on Saturday and only then, we would have had a good laugh) because April Fools’ Day was several days ago, but Musk’s move had an effect: Dogecoin was able to rise by double digits (more than 20%)…

Dogecoin is a meme cryptocurrency. Musk still got behind it, and because of that, it had significant support in early 2021. He used several tactics in the marketing campaign: he changed his Twitter profile picture. He linked to rules supporting digital currency, such as that you can buy Tesla merchandise with Dogecoin. Somehow, he even managed to get McDonald’s to let us pay with it in exchange for him eating a Happy Meal on Saturday Night Live on television. Before that, Dogecoin set a record, and then after Musk called it a hustle, it started to fall in value.

After that, Musk was hit with a $258 billion lawsuit from investors who claimed that the Tesla CEO had set up a “pyramid scheme,” or fraud, with the meme cryptocurrency. Musk’s lawyers have called it “a fanciful work of fiction” because they believe it is a punishment for “his innocuous and silly tweets.” “There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion. This court should stop plaintiffs’ fantasy and dismiss the complaint,” they said.

However, Musk’s lawyers can facepalm over the Twitter owner’s new move (recommended to him by someone else), while Dogecoin investors can rub their palms together…

Source: WCCFTech