Doge coin in trouble?

[frankomighty]

Well I think The aegis of the SEC does not cover cryptocurrency. However he has already been in trouble with the SEC over his tweets about Tesla, for instance his infamous “The price is too high” tweet.

The guy makes himself look like an idiot every time he tweets. We that's elon musk for you

Besides, what use is fining one of the world’s richest people?

Elon is just making money. It isn't about anything more than that. Remember what did with Doge Coin? He bought a bunch of it when it was totally worthless which drove the price up. When the price was as high as he and some people gollowing his lead could take it, he sold it all, the price plummeted, Elin made billions, and all those people that had followed his lead by buying Doge Coin lost tons of money as Doge Coin's value bottomed. However the  worst thing when investing in doge to get a very big profit is just because elon musk and buy when the price is high😁

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[Shasha80]

The plaintiff should prove where he found "defendant's claim" as far as I know if there is no evidence the case will not corner for defendant. And it's just a blank paper, if the defendant wants to retaliate with this defamation case, it could make him richer and become a boomerang. According to the article, investor's losses a big funds, I wonder.

Elon Musk has a lot of capital and, accordingly, his interests in court will be represented by the best lawyers. For this reason, and given the fact that Elon Musk's guilt will be difficult to prove, the plaintiff has no chance of winning the lawsuit. In addition, this trial may take several years.

I think those who made this lawsuit because they were trapped in Dogecoin with high prices that made them feel at a loss, especially when conducting this trial will also make the plaintiff spend a lot of money and waste time, Elon Musk has everything to win that judgment and it would be dangerous when he filed a libel suit that the first plaintiff would be affected.

Even though I know Elon Musk is manipulating the price of Dogecoin and I don't like Elon Musk either, but to be honest I don't feel disadvantaged
by Elon Musk. So it never occurred to me to file a lawsuit against Elon Musk. So what you're saying is true, that the plaintiff may have
purchased Dogecoin in large quantities at a high price, so with the price of Dogecoin falling drastically now the plaintiff has suffered a huge loss.
That's why he's suing Elon Musk and will most likely ask for compensation.

But the plaintiffs may forget that Elon Musk is one of the richest people in the world, meaning his influence is enormous in this world. So it's very
difficult to sue Elon Musk, let alone Elon Musk can hire a great and experienced lawyer. So it's almost impossible for the plaintiff to win, and also
Elon Musk never forced other people to buy Dogecoin, so most of his followers buy Dogecoin because of their own will, not because of getting
coercion from Elon Musk. We should never trust other people's opinions, when it comes to investing in crypto, make sure to make decisions based on
the results of our own research and analysis, don't let us buy coins because we are influenced by Elon Musk or other people.

[blockman]

Well, this became now the era of suing.

the worst thing when investing in doge to get a very big profit is just because elon musk and buy when the price is high.  And now they are sure against Elon?  it's a joke, how strongly they believe they will be able to bring it to court.  So far it's just a rumor about a doge on a pyramid scheme

Elon bought his Dogecoins for sure when it was three decimals or probably more than that. It reached a height of $0.7 and then it fell. That's truly a huge gap for him and bought a lot for sure then the dump has come. Now, those that have blindly followed him felt bad and can't blame anyone but him.

[serjent05]

I came across a news today that Elon Musk was sued for pumping doge coin and rumour of the pyramid scheme in doge coin isnt very clear to me yet, if you want to read the news here you go

https://www.bloomberg.com/news/articles/2022-06-16/musk-tesla-spacex-are-sued-for-alleged-dogecoin-pyramid-scheme

I do not think that Dogecoin is in trouble with this news.  As far as I know, Doge's developer isn't Elon, and Elon is just riding the meme coins for his own benefits.  Whatever fraudulent action Elon does in exploiting Dogecoin, it is accounted for on Elon's account alone and Doge's project and community have nothing to do with that case.  It might affect the market if the news becomes FUD but I think Doge will be ok.

[super bako]

can't blame anyone and no invitation to buy coin memes. the basics before making an investment must be prepared to risk losing or winning. fomo always does not bring good or vice versa before we have to correct previous projects, people who have been in crypto for a long time will understand this

[lobo13hf]

This news is nothing. Those people who sued elon didn't even have strong evidence to be used to bring elon to the court. So many times people were also doing the same thing over and over again to the so many big guys and only a few that being successfully brought to the court.
This accusation is coming when market was coming to the bearish trend and why don't they sue elon when doge coin pumped so hard?
They were being calm when they able to took the profit but when they were facing the lose and they were looking for something to be blamed.

[Silberman]

The plaintiff should prove where he found "defendant's claim" as far as I know if there is no evidence the case will not corner for defendant. And it's just a blank paper, if the defendant wants to retaliate with this defamation case, it could make him richer and become a boomerang. According to the article, investor's losses a big funds, I wonder.

Elon Musk has a lot of capital and, accordingly, his interests in court will be represented by the best lawyers. For this reason, and given the fact that Elon Musk's guilt will be difficult to prove, the plaintiff has no chance of winning the lawsuit. In addition, this trial may take several years.

And that is probably the best scenario they can actually expect out of this, as Elon can easily retaliate and force them to pay for his legal representation or even accuse them of defamation as they are affecting his name, brand and character, so things could even take a turn for the worse for those planning to sue Elon over his tweets, and since the chances of actually winning are so low I really think they should just drop the demand and accept their losses, something that every single trader needs to learn how to do on their own.

[savetheFORUM]

I came across a news today that Elon Musk was sued for pumping doge coin and rumour of the pyramid scheme in doge coin isnt very clear to me yet, if you want to read the news here you go

https://www.bloomberg.com/news/articles/2022-06-16/musk-tesla-spacex-are-sued-for-alleged-dogecoin-pyramid-scheme

I do not think that Dogecoin is in trouble with this news.  As far as I know, Doge's developer isn't Elon, and Elon is just riding the meme coins for his own benefits.  Whatever fraudulent action Elon does in exploiting Dogecoin, it is accounted for on Elon's account alone and Doge's project and community have nothing to do with that case.  It might affect the market if the news becomes FUD but I think Doge will be ok.

And also I don't think Elon is getting benefit of this because he is already a multi-billionaire, I mean he won't take the time to invest on these meme coins but if ever he invests on crypto, he will go for a more serious coin instead like bitcoin and ethereum. I think what Elon doing there is just having fun or making fun out of someone else. He thinks people are like a fool to instantly believe on the signs that he is giving on his tweets and he likes that fact.

The doge coin developer is not to be sued here either because he didn't heavily promote his coin but he is being silent for a long time now. It's was the people that are looking for hypes are the ones that awakens this sleeping coin.

[Romeotom]

Doge coin not good investment and it was a shitcoin for me. If elon musk not invest in doge coin then no way for hype. If you are a smart investors then you can't avoid btc or eth at this Moment. In my opinion this is a reliable situation for invest in btc or eth both.

[LUCKMCFLY]

The plaintiff should prove where he found "defendant's claim" as far as I know if there is no evidence the case will not corner for defendant. And it's just a blank paper, if the defendant wants to retaliate with this defamation case, it could make him richer and become a boomerang. According to the article, investor's losses a big funds, I wonder.

Elon Musk has a lot of capital and, accordingly, his interests in court will be represented by the best lawyers. For this reason, and given the fact that Elon Musk's guilt will be difficult to prove, the plaintiff has no chance of winning the lawsuit. In addition, this trial may take several years.

I think those who made this lawsuit because they were trapped in Dogecoin with high prices that made them feel at a loss, especially when conducting this trial will also make the plaintiff spend a lot of money and waste time, Elon Musk has everything to win that judgment and it would be dangerous when he filed a libel suit that the first plaintiff would be affected.

I think one thing, where Elon MUSK had not said that he is a fan of Doge and that he was going to put all that money in the currency, what would have happened? absolutely nothing, for things like that Satoshi will never come out in public, because obviously he would be judged and treated as the worst, in this case I think that people have some immaturity in the market, the whales will always manipulate the market, as well as the big institutions, such a demand is unheard of, but since in the world they are against eBTC and cryptocurrencies for the most part, it is likely to prosper, then the whales who wanted to go public will no longer do so.

[tvplus006]

...He bought a bunch of it when it was totally worthless which drove the price up. When the price was as high as he and some people gollowing his lead could take it, he sold it all, the price plummeted, Elin made billions, and all those people that had followed his lead by buying Doge Coin lost tons of money as Doge Coin's value bottomed. However the  worst thing when investing in doge to get a very big profit is just because elon musk and buy when the price is high😁

Now the price of Doge is exactly the same at which a year ago Elon Musk bought coins for his one-year-old son. And I have not seen such information anywhere that these coins were sold. Similarly, I have not seen information that would confirm your words that Elon Musk sold a Doge that was bought earlier. Perhaps the trial will give us more information on this issue.

[so98nn]

Ahh, I highly doubt that. Elon did nothing expect tweeting around and as far as I know we have right to tweet anything unless and until we are not directly hurting, threatening or abusing a person or entity. I see he has done nothing from above stuff.

Im not taking his side but the rules are rules, they can’t just go and sue someone just like that. Moreover, they are just taking the revenge and nothing else.

It was up to the fans of Elon whether to invest or not. There are so many random riches who are claiming they are investing in various coins. It does not mean we should invest in all of them.

[Faisal2202]

These rumors are not bad for doge instead these are some techniques to increase the traffic towards specific platform like doge, and the doge tokens has no use case as it is hyped by only big influencers like Elon Musk and others,
By the way,Use cases are not everything, like Luna has awesome use-cases but even than it comes to zero, all we need is influencers and money to back-up the platform,

[masterrex]

I came across a news today that Elon Musk was sued for pumping doge coin and rumour of the pyramid scheme in doge coin isnt very clear to me yet, if you want to read the news here you go

https://www.bloomberg.com/news/articles/2022-06-16/musk-tesla-spacex-are-sued-for-alleged-dogecoin-pyramid-scheme

IMO, I believe this case is just a form of harassment and has no merit at all because it's hard to prove that accusation. first Elon Musk has not directly told everyone to buy Dogecoin because it's a good investment, the second reason is I believe that everyone can tweet about any coin at any given time because it was a basic right of everyone as freedom of speech so it means just by tweeting a particular coin can be considered now as a crime. I'm not a lawyer but I believe this case won't prosper.  

[Victorik]

I came across a news today that Elon Musk was sued for pumping doge coin and rumour of the pyramid scheme in doge coin isnt very clear to me yet, if you want to read the news here you go

https://www.bloomberg.com/news/articles/2022-06-16/musk-tesla-spacex-are-sued-for-alleged-dogecoin-pyramid-scheme

Elon Musk is a controversial man, so I am not surprised at this news.
Anyways, I read the articles and I think this case lacks merit. I am sure there are no concrete evidence to back up such claims.
Dogecoin, just like every other coin is down and no one in particular can be blame for that.
Besides, no body forced him to invest in dogecoin, he did that at his own risk and should bear the consequences alone.

[monineklutak]

I came across a news today that Elon Musk was sued for pumping doge coin and rumour of the pyramid scheme in doge coin isnt very clear to me yet, if you want to read the news here you go

https://www.bloomberg.com/news/articles/2022-06-16/musk-tesla-spacex-are-sued-for-alleged-dogecoin-pyramid-scheme

FUD will always be there, especially with Doge whose prices are already very expensive,
of course many people want a DOGE dump or the same as in 2020, before Elon Musk admits it,
the price of Doge is still very cheap, after that in 2021 the price of Doge really flew the moon,
this is why many people also expect FUD

[nicedreams]

I think the coin doge is indeed one of the coins that runs according to the regulations that have been set, and there is no pyramid scheme even though Elon musk can control the coin but he can't fully do it, for the upslaught until the lawsuit occurs I think it's just a waste of time to continue the matter, because this is not possible because the coin doge has been present for a long time before Elon musk was interested in joining the crypto world, then the news is not entirely what we can believe.

Maybe it would discourage Elon Musk from shills for Doge in the future since he got called out and a sue case tail to tainted his fame? It might now harm him much but it might hurt Doge chance to free press by everytime he want to tweet about it.

[Moeda]

I came across a news today that Elon Musk was sued for pumping doge coin and rumour of the pyramid scheme in doge coin isnt very clear to me yet, if you want to read the news here you go

https://www.bloomberg.com/news/articles/2022-06-16/musk-tesla-spacex-are-sued-for-alleged-dogecoin-pyramid-scheme

The lawsuit is only limited to dynamics in the crypto market, especially Dogecoin. Because there have been many lawsuits before. Those with high wallet contents will always win the lawsuit. Maybe this is just my opinion, because we also don't see the process in the trial. And I'm sure if this happens then Elon Musk will easily get past him.

[serjent05]

The lawsuit is only limited to dynamics in the crypto market, especially Dogecoin. Because there have been many lawsuits before. Those with high wallet contents will always win the lawsuit. Maybe this is just my opinion, because we also don't see the process in the trial. And I'm sure if this happens then Elon Musk will easily get past him.

And the issue is limited to Elon Musk only not on the Dogecoin Project.  I believe Elon was charged with market manipulation and other possible cases that can be filed against him even though most of them will be thrown into the trash.  I don't care what happens to the case against Elon since he does not represent any crypto project.

Maybe it would discourage Elon Musk from shills for Doge in the future since he got called out and a sue case tail to tainted his fame? It might now harm him much but it might hurt Doge chance to free press by everytime he want to tweet about it.

No, it does not affect him, as far as I can remember I read some article on the internet that he will continue to support Doge despite the lawsuit.

[SistaFista]

As i recall, Elon Musk never said that we should buy Doge coin because it is a good investment.
Elon only said that cryptocurrency is good, not only Doge coin.
But he tweeted about Doge coin indeed, maybe people got it wrong. We shouldn't buy coin just from someone's tweet.