The price of Dogecoin purposefully driven up by more than 36,000% over the course of two years; according to an amended complaint filed by Musk, his electric car company Tesla Inc (TSLA. O), his space tourism company SpaceX, and others, before it crashed.
The original lawsuit was in June. According to the amended complaint, the richest man in the world, Elon Musk, tweeted that he would “keep supporting Dogecoin” and said in an interview that “those that work near the factory at SpaceX or Tesla” urged him for that support.
The anticipated $258 billion in damages is treble the market value decline of Dogecoin since May 2021.
Around that time, Musk dubbed Dogecoin “a hustle” while portraying a fake financial expert on an episode of “Saturday Night Live” on NBC.