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.

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%.