• Dogecoin [DOGE] is the favorite memecoin of Tesla and SpaceX CEO Elon Musk.
• Recently, ZetaChain raised $27 million for its L-1 blockchain project that will support Dogecoin.
• A group of DOGE investors recently filed a lawsuit against Musk, accusing him of insider trading and manipulating the memecoin’s prices.
Dogecoin – Elon Musk’s Favorite Memecoin
Dogecoin [DOGE] is the king meme coin that happens to be the favorite of Tesla and SpaceX CEO Elon Musk. Recently, ZetaChain raised $27 million for its L-1 blockchain project that will support a number of blockchains, including Dogecoin.
Investors File Lawsuit Against Musk
A group of Dogecoin investors proposed a class action lawsuit, accusing Musk of insider trading and manipulating DOGE, costing them billions of dollars. New court documents reveal that the plaintiffs in the lawsuit against Musk are accusing the billionaire of using a “bottomless war chest” to fund a harassment campaign against them.
Ripple Secures Victory Against SEC
Dogecoin’s price rallied 15% following the news of Ripple [XRP] securing a partial victory in its legal battle with the U.S. Securities and Exchange Commission (SEC) on 13 July. The U.S. District Court of the Southern District of New York ruled in its judgement that the sale of Ripple’s XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case. But the court also ruled that the institutional sale