Elon Musk, the Dogecoin developer
Musk's gigantic impact on DOGE price is nothing new to the crypto market. In recent years, Musk's tweets have repeatedly caused the price to explode. The chances of the richest man in the world actually integrating DOGE on Twitter seem pretty high after this tweet. Back in April, Musk floated the idea of using the memecoin to let Twitter users pay for his premium subscription service, Twitter Blue.
Also, rumors have been circulating for the past few days that Musk plans to charge all users $20 for a blue tick. DOGE could also be used for this. The fact that Musk is keeping his promises to the DOGE community is also shown by the fact that some Tesla products on the carmaker's website can already be paid for with Dogecoin. Additionally, the Boring Company accepts the cryptocurrency as payment for using the Las Vegas Loop.
Due to the massive impact it has on the market -- some are already calling it manipulation -- not everyone believes Musk has altruistic intentions. In June, a $258 billion lawsuit was filed against Musk, SpaceX and Tesla for manipulation of DOGE price.
Musk and the other defendants are accused of manipulating the Dogecoin price for over two years. After a gigantic surge of over 36,000%, the billionaire is said to have realized his profits and then caused a crash. In this way, Musk and company "made tens of billions of dollars at the expense of other investors," according to the lawsuit.
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