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Despite a lawsuit worth billions, Elon Musk is still behind Dogecoin



 Elon Musk continues to show his support for Dogecoin (Doge) even as he faces a $258 billion crypto lawsuit.


The Tesla CEO reconfirms that he is behind Dogecoin, despite facing a lawsuit alleging that he promoted the memecoin as a pyramid scheme.


Musk wrote on Twitter to his 99 million followers that he will continue to support and buy DOGE even as he faces a $258 billion lawsuit alleging that he supports the fraudulent crypto scheme.


"I will continue to support Dogecoin."


When a user on Twitter told Musk to keep buying Dogecoin, Musk replied:


"I'll do it."


With that statement, Musk caused the memecoin to rally from a seven-day low of $0.0501 to $0.0622, a 24% gain. DOGE has since stabilized. The price is $0.0599 at the time of writing.


As of last year, Musk has been an avid Dogecoin support, even calling Doge the crypto of the people. He also made it possible for certain Tesla products to be paid for with it. Doge is one of three cryptocurrencies Musk holds. The other two are Bitcoin and Ethereum.


It was recently revealed that an angry investor is claiming that Musk and his companies Tesla and SpaceX are backing the Dogecoin scam, where everyone is being fooled into buying Doge at a higher price.

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