Elon Musk demands that the lawsuit against Dogecoin be cancelled

Elon Musk is once again in the spotlight of the crypto industry. This time, he is demanding that a $258 billion lawsuit against Dogecoin be dismissed.

In February of this year, plaintiff Max Gladstein filed a lawsuit against Elon Musk, accusing him of manipulating Dogecoin prices. Gladstein claims that Musk caused the price of Dogecoin to change through his tweets and, as a result, caused him losses.

Musk’s demand: do not change the course of Dogecoin’s development

Musk has now asked the court to dismiss the lawsuit. He claims that he did not intend to cause damage to any person and that his tweets were just a joke.

“As you know, Dogecoin is a meme and should be treated as such. It is not a serious cryptocurrency, and my tweets about it were merely entertaining,” Musk wrote in a statement to the court.

According to Musk, the lawsuit could have a negative impact on the development of Dogecoin, which is not in line with his wishes. He calls for the lawsuit to be cancelled so as not to hinder the development of this cryptocurrency.

Elon Musk defends Dogecoin: what does this mean for the crypto market?

This could be important news for the crypto market. If the lawsuit is cancelled, it could have a positive impact on investors’ attitudes towards Dogecoin and Musk in general. It can also create a positive mood in the cryptocurrency market as a whole, which in turn can lead to higher prices for other digital assets.

Dogecoin is currently one of the most talked about cryptocurrencies on the market. This is also due to Musk’s open statement, which openly supports this cryptocurrency. However, some experts believe that Musk’s support may be just a high-profile marketing stunt that has no real support from the technological foundation.

In any case, the lawsuit against Musk over Dogecoin will be discussed for a long time in the crypto market. Now that Musk is demanding that it be cancelled, it is interesting to see how investors will react to this and how it will affect the further development of Dogecoin and the crypto market as a whole.

The result

If Musk is denied his request to drop the lawsuit, it could have a negative impact on Dogecoin’s price and the overall attitude of investors towards the cryptocurrency. However, his claim could help create a positive mood in the cryptocurrency market and boost prices of other digital assets. In any case, Musk’s further actions and the development of the cryptocurrency market will be interesting to watch.

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