As a flurry of speculative bets was spurred by optimism about the digital asset industry's potential under president-elect Donald Trump, many smaller cryptocurrencies have surpassed the market leader, bitcoin. This comes even as bitcoin has surged over 30% from under $70,000 to near $90,000 in a week. Watch in for more details!

Dogecoin Outperforms Record-Breaking Bitcoin

<p>Kabosu, the shiba inu famous for her "doge" meme expression and as an inspiration for Dogecoin, died on Friday (May 24). Her cute and funny face became a popular internet sensation and even influenced a cryptocurrency. Kabosu brought joy to many people online and her legacy will be remembered fondly by her fans around the world.</p>

<p>“Today Kabosu, our community's shared friend and inspiration, peacefully passed in the arms of her person,” the official cryptocurrency account of Dogecoin wrote on X. “She was a being who knew only happiness and limitless love."</p>

<p><a href="https://www.wionews.com/india-news/india-pet-dog-protects-owners-body-from-wild-animals-for-48-hours-amid-heavy-snow-watch-688293">Also read | Pet dog protects owner's body from wild animals for 48 hours amid heavy snow.</a></p>

<p>“We are all fortunate for hers to have touched and shaped ours,” the post further read.</p>

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<p dir="ltr" lang="en">Today Kabosu, our community's shared friend and inspiration, peacefully passed in the arms of her person. The impact this one dog has made across the world is immeasurable.<br />
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She was a being who knew only happiness and limitless love.<br />
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Please keep her spirit and her family in…</p>
— Dogecoin (@dogecoin) <a href="https://twitter.com/dogecoin/status/1793896242168107279?ref_src=twsrc%5Etfw">May 24, 2024</a></blockquote>
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<p>Kabosu gained fame as the iconic "Doge" meme, which led to the creation of the cryptocurrency Dogecoin, initially as a humorous endeavour but later becoming a cultural phenomenon worldwide.</p>

<p>This success paved the way for other dog-themed tokens like Shiba Inu (SHIB) and Floki (FLOKI), establishing a big presence in the cryptocurrency market.</p>

<p>In a recent blog post, Kabosu's owner announced plans for a farewell gathering on Sunday (May 26), at Flower Kaori in Kotsu no Mori, Narita City, from 1pm to 4pm.</p>

<p><a href="100 stray dogs in Delhi receive paw-some doggy 'Aadhaar cards'. Here's all you need to know">Also read | 100 stray dogs in Delhi receive paw-some doggy 'Aadhaar cards'. Here's all you need to know</a></p>

<p>They shared that Kabosu spent her final night eating rice and drinking water as usual. She passed away peacefully in her sleep the following day, comforted by her owner's presence.</p>

<p>Reflecting on their time together, Kabosu's owner described her as the happiest dog in the world, bringing immense joy to their life. They believe Kabosu continues to bring happiness, imagining her smiling and wagging her tail beside them even now.</p>

<p>In 2022, Kabosu was diagnosed with leukemia and liver disease.</p>

<p><em>(With inputs from agencies)</em></p>


Kabosu, the shiba inu famous for her "doge" meme expression and as an inspiration for Dogecoin, died on Friday (May 24). Her cute and funny face became a popular internet sensation and even influenced a cryptocurrency.

Kabosu, the shiba inu famous for her "doge" meme expression and as an inspiration for Dogecoin, died on Friday (May 24). Her cute and funny face became a popular internet sensation and even influenced a cryptocurrency. Kabosu brought joy to many people online and her legacy will be remembered fondly by her fans around the world. “Today Kabosu, our community's shared friend and inspiration, peacefully passed in the arms of her person,” the official cryptocurrency account of Dogecoin wrote on X. “She was a being who knew only happiness and limitless love." Also read | Pet dog protects owner's body from wild animals for 48 hours amid heavy snow. “We are all fortunate for hers to have touched and shaped ours,” the post further read. Today Kabosu, our community's shared friend and inspiration, peacefully passed in the arms of her person. The impact this one dog has made across the world is immeasurable. She was a being who knew only happiness and limitless love. Please keep her spirit and her family in… — Dogecoin (@dogecoin) May 24, 2024 × Kabosu gained fame as the iconic "Doge" meme, which led to the creation of the cryptocurrency Dogecoin, initially as a humorous endeavour but later becoming a cultural phenomenon worldwide. This success paved the way for other dog-themed tokens like Shiba Inu (SHIB) and Floki (FLOKI), establishing a big presence in the cryptocurrency market. In a recent blog post, Kabosu's owner announced plans for a farewell gathering on Sunday (May 26), at Flower Kaori in Kotsu no Mori, Narita City, from 1pm to 4pm. Also read | 100 stray dogs in Delhi receive paw-some doggy 'Aadhaar cards'. Here's all you need to know They shared that Kabosu spent her final night eating rice and drinking water as usual. She passed away peacefully in her sleep the following day, comforted by her owner's presence. Reflecting on their time together, Kabosu's owner described her as the happiest dog in the world, bringing immense joy to their life. They believe Kabosu continues to bring happiness, imagining her smiling and wagging her tail beside them even now. In 2022, Kabosu was diagnosed with leukemia and liver disease. (With inputs from agencies)

Kabosu no more: Dog behind 'Doge' meme icon, Dogecoin, dies at 17

<p>Elon Musk, currently the world's richest person, has been&nbsp;accused of insider trading in a proposed class action by investors. Musk has been&nbsp;accused of manipulating the cryptocurrency Dogecoin, costing them billions of dollars.</p>

<p>The filing was made in the Manhattan federal court on Wednesday night in which investors accused Musk of using Twitter posts and paying influencers and pursuing "publicity stunts" to make profits at their expense through multiple Dogecoin wallets that he controls.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/technology/elon-musks-neuralink-cleared-for-human-test-of-brain-implants-596576">Elon Musk's Neuralink cleared for human test of brain implants</a></strong></p>

<p>Investors said this includes&nbsp;the time&nbsp;Musk sold about $124 million of Dogecoin in April after he replaced Twitter's blue bird logo with Dogecoin's Shiba Inu dog logo, leading to a 30 per cent&nbsp;spike in Dogecoin's price.</p>

<p>The Tesla owner&nbsp;bought Twitter in October 2022.</p>

<h2><strong>Elon Musk insider trading accusation: What does the court filing say?</strong></h2>

<p>The investors have accused Elon Musk of deliberately driving up Dogecoin's price by more than 36,000 per cent over the last two years and then letting it crash.</p>

<p>According to the filing in Manhattan court, a&nbsp;"deliberate course of carnival barking, market manipulation and insider trading" enabled Elon Musk to defraud investors, and pave the way for his own promotion&nbsp;and his companies.</p>

<p><strong>Also watch |&nbsp;Elon Musk launches new AI start up to compete with OpenAI</strong></p>

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<p>They included their latest accusations in a proposed third amended complaint, in a lawsuit that began last June.</p>

<h2><strong>What did Elon Musk say?</strong></h2>

<p>Elon Musk and Tesla had in March sought a dismissal of the second amended complaint. They called it a "fanciful work of fiction," and on May 26 said another amendment was unjustified.</p>

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Elon Musk, currently the world's richest person, has been accused of insider trading in a proposed class action by investors. Musk has been accused of manipulating the cryptocurrency Dogecoin, costing them billions of dollars.

Elon Musk, currently the world's richest person, has been accused of insider trading in a proposed class action by investors. Musk has been accused of manipulating the cryptocurrency Dogecoin, costing them billions of dollars. The filing was made in the Manhattan federal court on Wednesday night in which investors accused Musk of using Twitter posts and paying influencers and pursuing "publicity stunts" to make profits at their expense through multiple Dogecoin wallets that he controls. Also read | Elon Musk's Neuralink cleared for human test of brain implants Investors said this includes the time Musk sold about $124 million of Dogecoin in April after he replaced Twitter's blue bird logo with Dogecoin's Shiba Inu dog logo, leading to a 30 per cent spike in Dogecoin's price. The Tesla owner bought Twitter in October 2022. Elon Musk insider trading accusation: What does the court filing say? The investors have accused Elon Musk of deliberately driving up Dogecoin's price by more than 36,000 per cent over the last two years and then letting it crash. According to the filing in Manhattan court, a "deliberate course of carnival barking, market manipulation and insider trading" enabled Elon Musk to defraud investors, and pave the way for his own promotion and his companies. Also watch | Elon Musk launches new AI start up to compete with OpenAI × They included their latest accusations in a proposed third amended complaint, in a lawsuit that began last June. What did Elon Musk say? Elon Musk and Tesla had in March sought a dismissal of the second amended complaint. They called it a "fanciful work of fiction," and on May 26 said another amendment was unjustified. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk engaged in 'carnival barking' for insider trading: Dogecoin lawsuit

Widely used meme coin Dogecoin dropped by about 9% on Thursday as Twitter switched back to its old Bluebird logo. This came after Twitter had replaced the iconic bird with a Shiba Inu parody just days before, after reaching a high of about 30%.

Dogecoin falls nearly 9% after Twitter's bird flies back as the logo

<p>Popular cryptocurrency Dogecoin fell by nearly 9% on Thursday after Twitter reverted to its iconic blue bird logo.</p>

<p>The fall in price is a mere reflection of how Elon Musk has used the crypto token as a joke.</p>

<p>Earlier, Twitter had replaced its blue bird logo with the Shiba Inu face, which is the logo of the Dogecoin crypto token.&nbsp;</p>

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<p dir="ltr" lang="zxx"><a href="https://t.co/wmN5WxUhfQ">pic.twitter.com/wmN5WxUhfQ</a></p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1642962756906418176?ref_src=twsrc%5Etfw">April 3, 2023</a></blockquote>
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<p>The unusual logo change led to Dogecoin rising by about 30 per cent. &nbsp;</p>

<p>Twitter users could see the unusual logo change on the website for a few days.</p>

<p>But the old logo has now been restored.</p>

<p>The logo alteration to Dogecoin came just days after Musk sought the dismissal of a $258 billion lawsuit, which accused him of manipulating and driving the crypto token's price by over 36,000 per cent. &nbsp;</p>

<p><strong>ALSO READ |</strong> <a href="https://www.wionews.com/world/heres-why-elon-musk-replaced-twitters-blue-bird-with-doge-meme-578791">Here's why Elon Musk replaced Twitter's blue bird with ‘Doge’ meme</a></p>

<h2><strong>What's Dogecoin?</strong></h2>

<p>Dogecoin began as a joke in 2013 but is now the eighth-most valuable cryptocurrency in the world, as per some estimates.&nbsp;</p>

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<p dir="ltr" lang="en">As promised <a href="https://t.co/Jc1TnAqxAV">pic.twitter.com/Jc1TnAqxAV</a></p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1642976364080041984?ref_src=twsrc%5Etfw">April 3, 2023</a></blockquote>
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<p>Dogecoin is a meme coin, a category of cryptocurrency which depicts popular animated memes. &nbsp;</p>

<p>Musk, who bought Twitter in 2022 for $44 billion, has been touting Dogecoin for many years.</p>

<p>His electric vehicle company, Tesla, announced in 2021 that it would take Dogecoins for some merchandise.</p>

<h2>Why the flip-flop with the logo?</h2>

<p>The question is, why exactly did Musk decide to change the Twitter logo to a dogecoin?</p>

<p>Musk may have been trying to shift attention away from the lawsuit against him by investors in Dogecoin, even though there is no clarification on this matter.</p>

<p>The argument he meant to illustrate by altering the logo to Doge was that his tweets about the Doge are not an attempt to mislead anyone and should not be taken seriously at any one point in time.</p>

<p><strong>WATCH | Elon Musk's belated April Fool's Day gag? Twitter logo changed to Dogecoin</strong></p>

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<p>This is precisely what his lawyers said in court while terming the case as a "fanciful work of fiction" over the Twitter owner's "innocuous and often silly tweets."</p>

<p>The purpose of modifying the logo may likely have been to simply demonstrate to the court that the defendant's acts about Dogecoin are, in fact, comical and in no way serious.</p>

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Popular cryptocurrency Dogecoin fell by nearly 9% on Thursday after Twitter reverted to its iconic blue bird logo. The fall in price is a mere reflection of how Elon Musk has used the crypto token as a joke.

Popular cryptocurrency Dogecoin fell by nearly 9% on Thursday after Twitter reverted to its iconic blue bird logo. The fall in price is a mere reflection of how Elon Musk has used the crypto token as a joke. Earlier, Twitter had replaced its blue bird logo with the Shiba Inu face, which is the logo of the Dogecoin crypto token. pic.twitter.com/wmN5WxUhfQ — Elon Musk (@elonmusk) April 3, 2023 × The unusual logo change led to Dogecoin rising by about 30 per cent. Twitter users could see the unusual logo change on the website for a few days. But the old logo has now been restored. The logo alteration to Dogecoin came just days after Musk sought the dismissal of a $258 billion lawsuit, which accused him of manipulating and driving the crypto token's price by over 36,000 per cent. ALSO READ | Here's why Elon Musk replaced Twitter's blue bird with ‘Doge’ meme What's Dogecoin? Dogecoin began as a joke in 2013 but is now the eighth-most valuable cryptocurrency in the world, as per some estimates. As promised pic.twitter.com/Jc1TnAqxAV — Elon Musk (@elonmusk) April 3, 2023 × Dogecoin is a meme coin, a category of cryptocurrency which depicts popular animated memes. Musk, who bought Twitter in 2022 for $44 billion, has been touting Dogecoin for many years. His electric vehicle company, Tesla, announced in 2021 that it would take Dogecoins for some merchandise. Why the flip-flop with the logo? The question is, why exactly did Musk decide to change the Twitter logo to a dogecoin? Musk may have been trying to shift attention away from the lawsuit against him by investors in Dogecoin, even though there is no clarification on this matter. The argument he meant to illustrate by altering the logo to Doge was that his tweets about the Doge are not an attempt to mislead anyone and should not be taken seriously at any one point in time. WATCH | Elon Musk's belated April Fool's Day gag? Twitter logo changed to Dogecoin This is precisely what his lawyers said in court while terming the case as a "fanciful work of fiction" over the Twitter owner's "innocuous and often silly tweets." The purpose of modifying the logo may likely have been to simply demonstrate to the court that the defendant's acts about Dogecoin are, in fact, comical and in no way serious. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Dogecoin drops after Twitter switches logo back to iconic blue bird

<p>In another setback to Twitter users, Elon Musk replaced the iconic blue bird logo of the micro-blogging site with the Shiba Inu logo related to the cryptocurrency Dogecoin.</p>

<p>The step was taken by Musk a day after he appealed for dismissal of a $258 billion racketeering lawsuit which accused of him inflating the value of Dogecoin intentionally.</p>

<p>Tweeting about the hilarious update, Musk shared a post on Tuesday that showed the Doge meme's face riding a car while a police officer is checking the driving license on which the ‘old’ blue bird logo is displayed.</p>

<p><strong>ALSO READ |</strong> <a href="https://www.wionews.com/technology/defending-twitters-paid-blue-tick-elon-musk-predicts-social-media-sites-without-such-model-will-fail-577878">Musk defends Twitter’s paid blue tick, says social media sites without such model ‘will fail’</a></p>

<p>As per Bloomberg, the value of Dogecoin increased by nearly 30 per cent after the sudden appearance of its picture in the website interface and the term 'Doge' started trending on Twitter.</p>

<p>Musk posted a screenshot of an old conversation with a Twitter user who had asked him to “buy Twitter and change the bird logo to a doge’ and captioned the post, ‘as promised’.</p>

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<p dir="ltr" lang="en">As promised <a href="https://t.co/Jc1TnAqxAV">pic.twitter.com/Jc1TnAqxAV</a></p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1642976364080041984?ref_src=twsrc%5Etfw">April 3, 2023</a></blockquote>
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<p>However, Twitter's mobile version remained unchanged. Dogecoin also responded to the unexpected change from its official Twitter account by invoking the famous meme's style and wrote, “Very currency. Wow. Much Coin. How Money. So Crypto.”</p>

<p>In February, an image of the 'Doge' posing as the new head of Twitter was shared by Musk who had written that the ‘new CEO is amazing’. In 2013, the meme coin was released as a joke to make fun of other cryptocurrencies like Bitcoin.</p>

<p>The replacement of the blue bird with the ‘Doge’ meme was Musk's way of retorting back to the lawsuit filed by the Dogecoin investors against him.</p>

<p><strong>WATCH | WION Speed News: Elon Musk once again the richest man in the world</strong></p>

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<p>The lawsuit was on Friday termed by Musk's lawyers as a ‘fanciful work of fiction’ over Musk’s ‘innocuous and often silly tweets’ regarding the cryptocurrency.</p>

<p>The legal team of Musk argued that statements like ‘Dogecoin Rulz’ and ‘no highs, no lows, only Doge’ held no ground in supporting the claim that Musk purposely increased the price of the cryptocurrency by more than 36,000 per cent in a span of two years and that he then allowed it to crash, which resulted in huge losses for its investors.</p>

<p><em>(With inputs from agencies)</em></p>

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In another setback to Twitter users, Elon Musk replaced the iconic blue bird logo of the micro-blogging site with the Shiba Inu logo related to the cryptocurrency Dogecoin.

In another setback to Twitter users, Elon Musk replaced the iconic blue bird logo of the micro-blogging site with the Shiba Inu logo related to the cryptocurrency Dogecoin. The step was taken by Musk a day after he appealed for dismissal of a $258 billion racketeering lawsuit which accused of him inflating the value of Dogecoin intentionally. Tweeting about the hilarious update, Musk shared a post on Tuesday that showed the Doge meme's face riding a car while a police officer is checking the driving license on which the ‘old’ blue bird logo is displayed. ALSO READ | Musk defends Twitter’s paid blue tick, says social media sites without such model ‘will fail’ As per Bloomberg, the value of Dogecoin increased by nearly 30 per cent after the sudden appearance of its picture in the website interface and the term 'Doge' started trending on Twitter. Musk posted a screenshot of an old conversation with a Twitter user who had asked him to “buy Twitter and change the bird logo to a doge’ and captioned the post, ‘as promised’. As promised pic.twitter.com/Jc1TnAqxAV — Elon Musk (@elonmusk) April 3, 2023 × However, Twitter's mobile version remained unchanged. Dogecoin also responded to the unexpected change from its official Twitter account by invoking the famous meme's style and wrote, “Very currency. Wow. Much Coin. How Money. So Crypto.” In February, an image of the 'Doge' posing as the new head of Twitter was shared by Musk who had written that the ‘new CEO is amazing’. In 2013, the meme coin was released as a joke to make fun of other cryptocurrencies like Bitcoin. The replacement of the blue bird with the ‘Doge’ meme was Musk's way of retorting back to the lawsuit filed by the Dogecoin investors against him. WATCH | WION Speed News: Elon Musk once again the richest man in the world The lawsuit was on Friday termed by Musk's lawyers as a ‘fanciful work of fiction’ over Musk’s ‘innocuous and often silly tweets’ regarding the cryptocurrency. The legal team of Musk argued that statements like ‘Dogecoin Rulz’ and ‘no highs, no lows, only Doge’ held no ground in supporting the claim that Musk purposely increased the price of the cryptocurrency by more than 36,000 per cent in a span of two years and that he then allowed it to crash, which resulted in huge losses for its investors. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Here's why Elon Musk replaced Twitter's blue bird with ‘Doge’ meme

<p>Kabosu, the 17-year-old famous 'doge' meme sensation and the face of 'dogecoin,' has been recovering after feeling sick.&nbsp;All 'doge' meme fans sigh with relief over the news.&nbsp; Atsuko Sato, the dog's owner on Friday shared a post giving an update on Kabosu's health, BBC reported.&nbsp;</p>

<p><a href="https://www.wionews.com/trending/kabasu-who-inspired-doge-meme-is-seriously-ill-with-leukemia-owner-shares-post-547380"><strong>Also read |&nbsp;Kabosu, the dog that inspired 'doge' meme and Dogecoin, seriously ill&nbsp;with leukemia, says owner</strong></a></p>

<p>The post read,&nbsp;"The Miracle of Kabosu couldn't have happened without your warm wishes and prayer,&nbsp;and now the adorable tiny dog is able to finish her meals, drank plenty of water and even went for a short walk on Friday."</p>

<p>Addressing her followers, Sato said, "I'm amazed how quickly she bounced back."&nbsp;</p>

<p>A post by&nbsp;DogeDesigner on Twitter read, "Your prayers are working. Our Doge, Kabosu is recovering well. She had her meal and even went for a walk today. Keep sending your love &amp; prayers."&nbsp;</p>

<p>In reply to the post, a user&nbsp;said, "I am so pleased to see her doing well."</p>

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<p dir="ltr" lang="en">Kabuso looks like such a good dog and hope she will continue to recover with your loving care. 🥰</p>
— Cathy Kichler 💎 (@CathyKichler) <a href="https://twitter.com/CathyKichler/status/1608576016641069058?ref_src=twsrc%5Etfw">December 29, 2022</a></blockquote>
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<p>Another user said, "I’m so glad she’s feeling better. Continued prayers."</p>

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<p dir="ltr" lang="en">Our <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> will Recover too🐕❤️</p>
— مي (@NavvidGh) <a href="https://twitter.com/NavvidGh/status/1608572974298456064?ref_src=twsrc%5Etfw">December 29, 2022</a></blockquote>
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<p>The Shiba Inu fell ill on Christmas eve as she stopped drinking and eating voluntarily. Sato, a kindergarten teacher posted a pic of her on Instagram saying that she felt sick and claimed her situation to be "very dangerous."&nbsp;Sato added that the dog was moving around very less and slowly. &nbsp;</p>

<p>The owner said that her appetite had returned.&nbsp;She also revealed that the dog was suffering from chronic leukaemia and acute cholangiohepatits.&nbsp;</p>

<p>The&nbsp;dog became viral in 2010 when a photo of her with folded paws and a curious expression went viral on Reddit, Tumblr, and 4Chan.&nbsp;</p>

<p>Her popularity increased in 2013 when two programmers introduced an alternative cryptocurrency called 'Dogecoin' a response to Bitcoin.&nbsp;</p>

<p><em>(With inputs from agencies)</em><br />
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Kabosu, the 17-year-old famous 'doge' meme sensation and the face of 'dogecoin,' has been recovering after feeling sick. All 'doge' meme fans sigh with relief over the news.

Kabosu, the 17-year-old famous 'doge' meme sensation and the face of 'dogecoin,' has been recovering after feeling sick. All 'doge' meme fans sigh with relief over the news. Atsuko Sato, the dog's owner on Friday shared a post giving an update on Kabosu's health, BBC reported. Also read | Kabosu, the dog that inspired 'doge' meme and Dogecoin, seriously ill with leukemia, says owner The post read, "The Miracle of Kabosu couldn't have happened without your warm wishes and prayer, and now the adorable tiny dog is able to finish her meals, drank plenty of water and even went for a short walk on Friday." Addressing her followers, Sato said, "I'm amazed how quickly she bounced back." A post by DogeDesigner on Twitter read, "Your prayers are working. Our Doge, Kabosu is recovering well. She had her meal and even went for a walk today. Keep sending your love & prayers." In reply to the post, a user said, "I am so pleased to see her doing well." Kabuso looks like such a good dog and hope she will continue to recover with your loving care. 🥰 — Cathy Kichler 💎 (@CathyKichler) December 29, 2022 × Another user said, "I’m so glad she’s feeling better. Continued prayers." Our #Dogecoin will Recover too🐕❤️ — مي (@NavvidGh) December 29, 2022 × The Shiba Inu fell ill on Christmas eve as she stopped drinking and eating voluntarily. Sato, a kindergarten teacher posted a pic of her on Instagram saying that she felt sick and claimed her situation to be "very dangerous." Sato added that the dog was moving around very less and slowly. The owner said that her appetite had returned. She also revealed that the dog was suffering from chronic leukaemia and acute cholangiohepatits. The dog became viral in 2010 when a photo of her with folded paws and a curious expression went viral on Reddit, Tumblr, and 4Chan. Her popularity increased in 2013 when two programmers introduced an alternative cryptocurrency called 'Dogecoin' a response to Bitcoin. (With inputs from agencies) WATCH WION LIVE HERE

Kabosu, the dog that inspired 'doge' meme and Dogecoin, makes speedy recovery, says owner

<p>Dogecoin increased by more than 70 per cent&nbsp;on Saturday, continuing this week's advances following Elon Musk's $44 billion acquisition of Twitter last week.&nbsp;</p>

<p>The CEO of Tesla Inc., a fervent supporter of cryptocurrencies, has a significant impact on dogecoin and bitcoin values.&nbsp;</p>

<p>Early this year, Tesla began taking dogecoin as payment for its products. Musk's recently launched perfume line now accepts Dogecoin.&nbsp;</p>

<p>The cryptocurrency exchange Binance, which contributed $500 million to Musk's acquisition of Twitter, claimed to be formulating ideas for how blockchain technology and cryptocurrencies may benefit Twitter.</p>

<p>Under previous CEO Jack Dorsey, who is a supporter of bitcoin, and co-founder Evan Williams, Twitter has started looking at how to apply blockchain technology.&nbsp;</p>

<p>This month, Musk tweeted that he was purchasing Twitter to build an "everything app." Asian companies like WeChat, which enables users to not only send messages but also make payments, shop online, and hail a cab, are where the concept of an all-encompassing software first emerged.&nbsp;</p>

<p>Dogecoin, which started as a social media joke, was formerly unknown until Elon Musk's tweets about it, like the one where he labelled it the "people's crypto," transformed it into a speculator's paradise.</p>

<p>Also Read:&nbsp;<a href="https://www.wionews.com/world/painting-by-piet-mondrian-hanging-upside-down-for-77-years-529505">Painting by Piet Mondrian hanging upside down for 77 years</a></p>

<p>World leaders and banned account holders are pleading with Musk to reactivate their accounts after he pledged to restore free expression on Twitter.&nbsp;</p>

<p>A content moderation committee "with widely diverse viewpoints" will be formed by Twitter, he said on Friday. Before the council meets, no significant content decisions or account reinstatements will be made, he added.&nbsp;</p>

<p>In a tweet posted on Saturday, the billionaire claimed Twitter users would soon be able to select the version of the social networking site they prefer by ranking their tweets.</p>

<p><em>(with inputs from agencies)</em><br />
&nbsp;</p>

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Dogecoin increased by more than 70 per cent on Saturday, continuing this week's advances following Elon Musk's $44 billion acquisition of Twitter last week. The CEO of Tesla Inc.

Dogecoin increased by more than 70 per cent on Saturday, continuing this week's advances following Elon Musk's $44 billion acquisition of Twitter last week. The CEO of Tesla Inc., a fervent supporter of cryptocurrencies, has a significant impact on dogecoin and bitcoin values. Early this year, Tesla began taking dogecoin as payment for its products. Musk's recently launched perfume line now accepts Dogecoin. The cryptocurrency exchange Binance, which contributed $500 million to Musk's acquisition of Twitter, claimed to be formulating ideas for how blockchain technology and cryptocurrencies may benefit Twitter. Under previous CEO Jack Dorsey, who is a supporter of bitcoin, and co-founder Evan Williams, Twitter has started looking at how to apply blockchain technology. This month, Musk tweeted that he was purchasing Twitter to build an "everything app." Asian companies like WeChat, which enables users to not only send messages but also make payments, shop online, and hail a cab, are where the concept of an all-encompassing software first emerged. Dogecoin, which started as a social media joke, was formerly unknown until Elon Musk's tweets about it, like the one where he labelled it the "people's crypto," transformed it into a speculator's paradise. Also Read: Painting by Piet Mondrian hanging upside down for 77 years World leaders and banned account holders are pleading with Musk to reactivate their accounts after he pledged to restore free expression on Twitter. A content moderation committee "with widely diverse viewpoints" will be formed by Twitter, he said on Friday. Before the council meets, no significant content decisions or account reinstatements will be made, he added. In a tweet posted on Saturday, the billionaire claimed Twitter users would soon be able to select the version of the social networking site they prefer by ranking their tweets. (with inputs from agencies)

Dogecoin surges more than 70% after Musk's Twitter deal

<p>The $258 billion racketeering lawsuit accusing Elon Musk of creating a pyramid scheme to fund the cryptocurrency Dogecoin has expanded, adding seven new investment plaintiffs and six new defendants including his tunnel construction enterprise Boring Co.&nbsp;</p>

<p>According to an additional complaint filed on Tuesday night in Manhattan federal court, Musk, his electric vehicle firm Tesla Inc, his space tourism company SpaceX, Boring and others purposefully built up the price of Dogecoin by more than 36,000% over two years and then allowed it drop.</p>

<p>Despite knowing all along that the currency had no intrinsic value and that its value "depended solely on marketing," the defendants "profited tens of billions of dollars" as a result at the expense of other Dogecoin investors, the complaint claimed.&nbsp;</p>

<p>Requests for comment on Wednesday were not immediately answered by Tesla, SpaceX, or Boring. In 2020, Tesla closed its media relations division.&nbsp;</p>

<p>In June, the initial lawsuit was submitted.</p>

<p>Also Read:&nbsp;<a href="https://www.wionews.com/india-news/matrimonycom-launches-matchmaking-platform-for-lgbtqia-community-513774">Matchmaking website launches first-ever platform for LGBTQIA+ in India</a></p>

<p>The richest man in the world, Elon Musk, said in an interview that he would "keep supporting Dogecoin" and that "people that work around the factory at SpaceX or Tesla" had asked him for that support shortly after that, according to the amended complaint.&nbsp;</p>

<p>The Dogecoin Foundation, which describes itself as a nonprofit organisation that oversees and supports Dogecoin, is one of the additional new defendants. It could not be reached right away for comment.&nbsp;</p>

<p>The anticipated $258 billion in damages is treble the market value decline of Dogecoin since May 2021.</p>

<p><em>(with inputs from agencies)</em></p>

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The $258 billion racketeering lawsuit accusing Elon Musk of creating a pyramid scheme to fund the cryptocurrency Dogecoin has expanded, adding seven new investment plaintiffs and six new defendants including his tunnel construction enterprise Boring Co.

The $258 billion racketeering lawsuit accusing Elon Musk of creating a pyramid scheme to fund the cryptocurrency Dogecoin has expanded, adding seven new investment plaintiffs and six new defendants including his tunnel construction enterprise Boring Co. According to an additional complaint filed on Tuesday night in Manhattan federal court, Musk, his electric vehicle firm Tesla Inc, his space tourism company SpaceX, Boring and others purposefully built up the price of Dogecoin by more than 36,000% over two years and then allowed it drop. Despite knowing all along that the currency had no intrinsic value and that its value "depended solely on marketing," the defendants "profited tens of billions of dollars" as a result at the expense of other Dogecoin investors, the complaint claimed. Requests for comment on Wednesday were not immediately answered by Tesla, SpaceX, or Boring. In 2020, Tesla closed its media relations division. In June, the initial lawsuit was submitted. Also Read: Matchmaking website launches first-ever platform for LGBTQIA+ in India The richest man in the world, Elon Musk, said in an interview that he would "keep supporting Dogecoin" and that "people that work around the factory at SpaceX or Tesla" had asked him for that support shortly after that, according to the amended complaint. The Dogecoin Foundation, which describes itself as a nonprofit organisation that oversees and supports Dogecoin, is one of the additional new defendants. It could not be reached right away for comment. The anticipated $258 billion in damages is treble the market value decline of Dogecoin since May 2021. (with inputs from agencies)

Elon Musk's $258 billion Dogecoin racketeering lawsuit scales up adding new plaintiffs

Billionaire Elon Musk has been sued for $258 billion by a crypto investor for allegedly running a 'Dogecoin Pyramid scheme'. A formal complaint was filed in Federal court in Manhattan.

Dogecoin investor sues Billionaire Elon Musk for allegedly running a pyramid scheme

<p>Keith Johnson, an investor in Dogecoin, has sued billionaire Elon Musk for promoting an alleged pyramid scheme to support the cryptocurrency.</p>

<p>Describing himself as an "American citizen who was defrauded," Johnson has accused Musk of increasing "the price, market cap and trading volume of Dogecoin" through his promotion of it.</p>

<p>Since dogecoin does not have any intrinsic value nor is it a product, Johnson has likened it to a pyramid scheme.</p>

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<p>According to a complaint filed in a federal court in Manhattan, "Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading."</p>

<p>"Musk used his pedestal as World's Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement," the complaint added.</p>

<p>Highlighting Musk's role in what he called a "Dogecoin Crypto Pyramid Scheme," Johnson has submitted his tweets including one promising that SpaceX would "put a literal Dogecoin on the literal moon."</p>

<p><strong><a href="https://www.wionews.com/world/as-payment-for-merchandise-tesla-to-accept-dogecoin-on-a-test-basis-says-ceo-musk-436927">Also read |&nbsp;As payment for merchandise, Tesla to accept dogecoin on a test basis, says CEO Musk</a></strong></p>

<p>Not only this, in his class-action suit, Johnson has also named Musk's Tesla electric carmaker in the suit since it accepts dogecoin as payment for certain derivative products.</p>

<p>As a result of losses suffered by investing in dogecoin since 2019 due to Musk, Johnson has asked him to pay $86 billion along with $86 billion in damages.</p>

<p>Interestingly, dogecoin was originally created as a joke and an ironic response to cryptocurrencies such as bitcoin, and a meme image of a Shiba Inu dog.</p>

<p><em>(With inputs from agencies)</em></p>

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Keith Johnson, an investor in Dogecoin, has sued billionaire Elon Musk for promoting an alleged pyramid scheme to support the cryptocurrency. Describing himself as an "American citizen who was defrauded," Johnson has accused Musk of increasing "the price, market cap and trading volume of Dogecoin" through his promotion of it.

Keith Johnson, an investor in Dogecoin, has sued billionaire Elon Musk for promoting an alleged pyramid scheme to support the cryptocurrency. Describing himself as an "American citizen who was defrauded," Johnson has accused Musk of increasing "the price, market cap and trading volume of Dogecoin" through his promotion of it. Since dogecoin does not have any intrinsic value nor is it a product, Johnson has likened it to a pyramid scheme. × According to a complaint filed in a federal court in Manhattan, "Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading." "Musk used his pedestal as World's Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement," the complaint added. Highlighting Musk's role in what he called a "Dogecoin Crypto Pyramid Scheme," Johnson has submitted his tweets including one promising that SpaceX would "put a literal Dogecoin on the literal moon." Also read | As payment for merchandise, Tesla to accept dogecoin on a test basis, says CEO Musk Not only this, in his class-action suit, Johnson has also named Musk's Tesla electric carmaker in the suit since it accepts dogecoin as payment for certain derivative products. As a result of losses suffered by investing in dogecoin since 2019 due to Musk, Johnson has asked him to pay $86 billion along with $86 billion in damages. Interestingly, dogecoin was originally created as a joke and an ironic response to cryptocurrencies such as bitcoin, and a meme image of a Shiba Inu dog. (With inputs from agencies) Watch WION's live TV here: ×

Dogecoin investor sues Elon Musk for $258bn, accusing him of running pyramid scheme

Elon Musk sued for $258 billion over 'Dogecoin Pyramid scheme'

After the American fast-food chain McDonald's joked about an imaginary cryptocurrency 'Grimacecoin' in response to Elon Musk's tweet on the chain to accept Dogecoin as a payment option, a newly minted 'Grimacecoin' showed up on various crypto exchanges with its valuation surging 285,000% before the downfall.

McDonald's joke in response to Elon Musk's tweet creates fake 'Grimacecoin' that surged 285,000%

McDonald's joke in response to Elon Musk's tweet creates fake 'Grimacecoin' that surges 285,000%

<p>After making news for becoming the Time magazine's 'Person of the Year' for 2021, Tesla Inc chief Elon Musk is back at it again. &nbsp;&nbsp;</p>

<p>On Tuesday, Musk said that on a test basis, the electric carmaker will accept dogecoin as payment for merchandise. The announcement gave a push to the cryptocurrency, sending it up by 24%. &nbsp;</p>

<p>In a tweet, Musk said, "Tesla will make some merch buyable with Doge &amp; see how it goes." &nbsp;&nbsp;</p>

<p><strong>Also Read |&nbsp;<a href="https://www.wionews.com/world/worst-choice-ever-time-magazine-faces-backlash-for-naming-elon-musk-person-of-the-year-for-2021-436799" hreflang="en">‘Worst choice ever’: Time magazine faces backlash for naming Elon Musk 'Person of the Year’ for 2021</a></strong></p>

<p>After the message, the cryptocurrency raced up to $0.20. &nbsp;&nbsp;</p>

<p>The billionaire did not specify which merchandise could be bought. The merchandise of the company can cost from $50 to $1,900. &nbsp;</p>

<p>The company sells items, such as mini models of vehicles, apparel, limited-edition 'Cyberwhistle', quad bike 'Cyberquad', 'Giga Texas' belt buckles, etc. &nbsp;&nbsp;</p>

<p><strong>Also Read:&nbsp;<a href="https://www.wionews.com/world/hong-kong-media-tycoon-jimmy-lai-sentenced-to-13-months-in-prison-436531" hreflang="en">Hong Kong media tycoon Jimmy Lai sentenced to 13 months in prison</a></strong></p>

<p>As per data from Coinbase website, the tweets by the Tesla CEO on the cryptocurrency, have helped the cryptocurrency soar 5,859% in the last year. &nbsp;</p>

<p>"Bitcoin is not a good substitute for transactional currency," Musk also said in an interview. &nbsp;&nbsp;</p>

<p>In a Twitter poll, Musk had asked users if they wanted Tesla to accept dogecoin in May. &nbsp;&nbsp;</p>

<p><em>(With inputs from agencies)&nbsp;</em></p>


After making news for becoming the Time magazine's 'Person of the Year' for 2021, Tesla Inc chief Elon Musk is back at it again. On Tuesday, Musk said that on a test basis, the electric carmaker will accept dogecoin as payment for merchandise.

After making news for becoming the Time magazine's 'Person of the Year' for 2021, Tesla Inc chief Elon Musk is back at it again. On Tuesday, Musk said that on a test basis, the electric carmaker will accept dogecoin as payment for merchandise. The announcement gave a push to the cryptocurrency, sending it up by 24%. In a tweet, Musk said, "Tesla will make some merch buyable with Doge & see how it goes." Also Read | ‘Worst choice ever’: Time magazine faces backlash for naming Elon Musk 'Person of the Year’ for 2021 After the message, the cryptocurrency raced up to $0.20. The billionaire did not specify which merchandise could be bought. The merchandise of the company can cost from $50 to $1,900. The company sells items, such as mini models of vehicles, apparel, limited-edition 'Cyberwhistle', quad bike 'Cyberquad', 'Giga Texas' belt buckles, etc. Also Read: Hong Kong media tycoon Jimmy Lai sentenced to 13 months in prison As per data from Coinbase website, the tweets by the Tesla CEO on the cryptocurrency, have helped the cryptocurrency soar 5,859% in the last year. "Bitcoin is not a good substitute for transactional currency," Musk also said in an interview. In a Twitter poll, Musk had asked users if they wanted Tesla to accept dogecoin in May. (With inputs from agencies)

As payment for merchandise, Tesla to accept dogecoin on a test basis, says CEO Musk

The cryptocurrency market is experiencing a tough time following last week's free fall. Strong volatility pushed many investors to insolvency. Crypto investors have incurred a huge loss of $ 830 billion in the last one week.

World Business Watch: Volatility in cryptocurrency market

<p>Fake promised giveaways by celebrities such as Telsa CEO Elon Musk are being used by scammers to cash in on interest in cryptocurrencies, the U.S. Federal Trade Commission said on Monday in noting a jump in complaints about cryptocurrency fraud since October.</p>

<p>In one type of scam, people are told that if they give a certain amount of cryptocurrency to a "celebrity" they will get more back.</p>

<p>"People have reported sending more than $2 million in cryptocurrency to Elon Musk impersonators over just the past six months," the FTC said.</p>

<p>Musk had been a supporter of cryptocurrencies but recently knocked dogecoin by calling it "a hustle" on national television. He has also recently said that bitcoin would not be accepted to buy a Tesla because of the environmental costs associated with mining it.</p>

<p>Scammers also impersonate government authorities or a potential romantic partner, the FTC said.</p>

<p>Overall, nearly 7,000 people reported losses of more than $80 million since October, with a median loss of $1,900, the agency said. That's twelve times more reports of scams than the same period a year earlier, the agency said.</p>

<p>People in their 20s and 30s were the biggest victims, reporting losing much more money on investment and cryptocurrency fraud than any other type of scam. Older people, over 50, were less likely to report falling for the scams but when they did the losses were bigger, with a median loss of $3,250.</p>


Fake promised giveaways by celebrities such as Telsa CEO Elon Musk are being used by scammers to cash in on interest in cryptocurrencies, the U.S. Federal Trade Commission said on Monday in noting a jump in complaints about cryptocurrency fraud since October.

Fake promised giveaways by celebrities such as Telsa CEO Elon Musk are being used by scammers to cash in on interest in cryptocurrencies, the U.S. Federal Trade Commission said on Monday in noting a jump in complaints about cryptocurrency fraud since October. In one type of scam, people are told that if they give a certain amount of cryptocurrency to a "celebrity" they will get more back. "People have reported sending more than $2 million in cryptocurrency to Elon Musk impersonators over just the past six months," the FTC said. Musk had been a supporter of cryptocurrencies but recently knocked dogecoin by calling it "a hustle" on national television. He has also recently said that bitcoin would not be accepted to buy a Tesla because of the environmental costs associated with mining it. Scammers also impersonate government authorities or a potential romantic partner, the FTC said. Overall, nearly 7,000 people reported losses of more than $80 million since October, with a median loss of $1,900, the agency said. That's twelve times more reports of scams than the same period a year earlier, the agency said. People in their 20s and 30s were the biggest victims, reporting losing much more money on investment and cryptocurrency fraud than any other type of scam. Older people, over 50, were less likely to report falling for the scams but when they did the losses were bigger, with a median loss of $3,250.

Crypto scammers made over $2 million through fake Elon Musk giveaways 

<p>A senior executive at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto-asset which has risen by more than 1,000 per cent in value this year.</p>

<p>According to the media reports, a spokesman for Goldman Sachs confirmed Aziz McMahon, a managing director and head of emerging market sales based in London, has left the investment bank. But the spokesman also said that he had no knowledge of the investment in dogecoin.<br />
<br />
He graduated from Trinity College in Dublin with a master’s degree in Economics in 1998.</p>

<p>The Guardian newspaper reported McMahon made the money investing on his own personal account and wasn’t involved in trading cryptocurrencies for Goldman Sachs. While not much is known about the amount McMahon reportedly made, the newspaper cites unnamed sources claiming it was a “substantial sum.”</p>

<p>A report in eFinancialCareers suggested he might be starting a hedge fund, but it did not provide any information backing those claims.</p>

<p>SpaceX and Tesla chief Elon Musk's favourite cryptocurrency has gone up more than 130-fold this year. SpaceX announced the "DOGE-1 Mission to the Moon" in the first quarter of next year, with Musk's commercial rocket company accepting the meme-inspired cryptocurrency Dogecoin as payment.</p>

<p>However, Dogecoin lost more than a third of its price on May 9, after Musk called it a "hustle" during his guest-host spot on the Saturday Night Live (SNL) comedy sketch TV show.</p>

<p><em>(With inputs from agencies)</em></p>


A senior executive at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto-asset which has risen by more than 1,000 per cent in value this year.

A senior executive at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto-asset which has risen by more than 1,000 per cent in value this year. According to the media reports, a spokesman for Goldman Sachs confirmed Aziz McMahon, a managing director and head of emerging market sales based in London, has left the investment bank. But the spokesman also said that he had no knowledge of the investment in dogecoin. He graduated from Trinity College in Dublin with a master’s degree in Economics in 1998. The Guardian newspaper reported McMahon made the money investing on his own personal account and wasn’t involved in trading cryptocurrencies for Goldman Sachs. While not much is known about the amount McMahon reportedly made, the newspaper cites unnamed sources claiming it was a “substantial sum.” A report in eFinancialCareers suggested he might be starting a hedge fund, but it did not provide any information backing those claims. SpaceX and Tesla chief Elon Musk's favourite cryptocurrency has gone up more than 130-fold this year. SpaceX announced the "DOGE-1 Mission to the Moon" in the first quarter of next year, with Musk's commercial rocket company accepting the meme-inspired cryptocurrency Dogecoin as payment. However, Dogecoin lost more than a third of its price on May 9, after Musk called it a "hustle" during his guest-host spot on the Saturday Night Live (SNL) comedy sketch TV show. (With inputs from agencies)

Goldman Sachs director quits after making millions from Dogecoin: Report

<p>The founder, CEO of SpaceX Elon Musk has said his rocket company SpaceX will now accept the meme-inspired cryptocurrency Dogecoin as payment.</p>

<p>Musk has tweeted that "SpaceX launching satellite Doge-1 to the moon next year Mission paid for in Doge 1st crypto in space 1st meme in space".</p>

<div class="ui-state-default" contenteditable="false">
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<p dir="ltr" lang="en">SpaceX launching satellite Doge-1 to the moon next year<br />
<br />
– Mission paid for in Doge<br />
– 1st crypto in space<br />
– 1st meme in space<br />
<br />
To the mooooonnn!!<a href="https://t.co/xXfjGZVeUW">https://t.co/xXfjGZVeUW</a></p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1391523807148527620?ref_src=twsrc%5Etfw">May 9, 2021</a></blockquote>
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<p>Geometric Energy Corporation announced the dogecoin-funded mission earlier on Sunday, with the statement not disclosing the mission's financial value.</p>

<p>"This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce", SpaceX Vice President of Commercial Sales Tom Ochinero was quoted as saying in the statement released by Geometric Energy.</p>

<p>Musk said on Twitter in April that SpaceX was going to put a "literal Dogecoin on the literal moon".</p>

<p>Dogecoin lost more than a third of its price on Sunday after Musk called it a 'hustle' during his guest-host spot on the "Saturday Night Live" comedy sketch TV show.</p>

<p>Musk's tweets this year turned the once-obscure digital currency, which began as a social media joke, into a speculator's dream.</p>

<p>On crypto data tracker CoinGecko.com, dogecoin has jumped more than 800% over the last month and is now the fourth-largest digital currency, with a market capitalization of $73 billion. It hit a record high Thursday above $0.73.</p>

<p>Electric carmaker Tesla Inc, where Musk is CEO, said in February it bought $1.5 billion worth of bitcoin and would soon accept it as a form of payment for its electric cars, a large stride toward mainstream acceptance that sent bitcoin soaring to a record high of nearly $62,000.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>


The founder, CEO of SpaceX Elon Musk has said his rocket company SpaceX will now accept the meme-inspired cryptocurrency Dogecoin as payment. Musk has tweeted that "SpaceX launching satellite Doge-1 to the moon next year Mission paid for in Doge 1st crypto in space 1st meme in space".

The founder, CEO of SpaceX Elon Musk has said his rocket company SpaceX will now accept the meme-inspired cryptocurrency Dogecoin as payment. Musk has tweeted that "SpaceX launching satellite Doge-1 to the moon next year Mission paid for in Doge 1st crypto in space 1st meme in space". SpaceX launching satellite Doge-1 to the moon next year – Mission paid for in Doge – 1st crypto in space – 1st meme in space To the mooooonnn!!https://t.co/xXfjGZVeUW — Elon Musk (@elonmusk) May 9, 2021 × Geometric Energy Corporation announced the dogecoin-funded mission earlier on Sunday, with the statement not disclosing the mission's financial value. "This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce", SpaceX Vice President of Commercial Sales Tom Ochinero was quoted as saying in the statement released by Geometric Energy. Musk said on Twitter in April that SpaceX was going to put a "literal Dogecoin on the literal moon". Dogecoin lost more than a third of its price on Sunday after Musk called it a 'hustle' during his guest-host spot on the "Saturday Night Live" comedy sketch TV show. Musk's tweets this year turned the once-obscure digital currency, which began as a social media joke, into a speculator's dream. On crypto data tracker CoinGecko.com, dogecoin has jumped more than 800% over the last month and is now the fourth-largest digital currency, with a market capitalization of $73 billion. It hit a record high Thursday above $0.73. Electric carmaker Tesla Inc, where Musk is CEO, said in February it bought $1.5 billion worth of bitcoin and would soon accept it as a form of payment for its electric cars, a large stride toward mainstream acceptance that sent bitcoin soaring to a record high of nearly $62,000. (With inputs from agencies)

Cryptocurrency: SpaceX to accept Dogecoin as payment for 'DOGE-1 Mission' to the moon next year

<p>Meme-based cryptocurrency&nbsp;Dogecoin&nbsp;fell on Tuesday after hitting an all-time high in a wild session that saw supporters of the token once considered a parody use hashtags to fuel a rally until it lost steam.</p>

<p>Dogecoin&nbsp;ultimately fell 15.4 per cent&nbsp;to US$0.33, but during the session when it hit a record peak, its market capitalisation soared to more than $50 billion. After the slump, its market cap dropped roughly $45 billion, according to coinmarketcap.com.</p>

<p>By comparison, the wildly popular bitcoin has a market cap of more than $1 trillion.</p>

<p>Dogecoin&nbsp;fans used the hashtags #DogeDay and #DogeDay420 to post memes, messages and videos on Twitter, Reddit and TikTok, referring to the informal April 20 holiday to celebrate cannabis which is marked by smoke-ins and street parties.</p>

<p>"GIMME THAT&nbsp;DOGECOIN&nbsp;LAMBO!!! #DogeDay" one tweeted, referring to the Lamborghini sports car popular in crypto culture.</p>

<p>An 8,000% price increase this year has seen&nbsp;Dogecoin, launched as a satirical critique of 2013's cryptocurrency frenzy, overtake more widely-used cryptocurrencies like Litecoin and briefly Tether, to become the sixth-largest coin.</p>

<p>"The current retail fervor probably won't completely give up on&nbsp;Dogecoin," said Edward Moya, senior market analyst at online FX trading platform OANDA, but he did anticipate the "sell the event reaction" for the cryptocurrency.</p>

<p>Dogecoin's logo features a Shiba Inu dog at the center of the meme. It can be traded on crypto exchanges and more popular mainstream trading apps.</p>

<p>"The Doge rally represents an interesting convergence," said Diana Biggs, CEO of crypto start-up Valour, after&nbsp;Dogecoin's price soared by more than five-fold in the last week to a record $0.42, according to CoinMarketCap.</p>

<p>"A meme coin created as a joke for early crypto adopters whose community found that kind of thing to be fun, with now a new generation of retail investors for whom memes are a native language," Biggs added.</p>

<p><strong>Online trading</strong></p>

<p>Dogecoin's rise came during a surge in online trading of stocks and crypto by retail investors, stuck at home with extra cash because of the COVID-19 pandemic. The coin has not seen much growth in usage for payments or in commerce.</p>

<p>A boom in usage of online trading apps like Robinhood also fueled the social-media driven rally in GameStop Corp stock this year, which pitted retail investors against hedge funds.</p>

<p>"It's an extension of the same phenomenon that has led Tesla stock to be valued well beyond fundamentals and more recently to the GME (GameStop) short squeeze," said Ajit Tripathi, head of institutional business at decentralised finance startup Aave.</p>

<p>Like other cryptocurrencies,&nbsp;Dogecoin's price is heavily influenced by social media users including Tesla chief Elon Musk, whose tweets on the cryptocurrency in February sent its price soaring over 60 per cent.</p>

<p>Dogecoin&nbsp;currently has a 16.7&nbsp;per cent&nbsp;implied probability to be worth more than $1 at the end of 2021, according to betting aggregators US-Bookies.com, a significant improvement from earlier this month, when it had just a 2.9&nbsp;per cent&nbsp;chance to do so.</p>

<p><em>(With inputs from agencies)</em></p>


Meme-based cryptocurrency Dogecoin fell on Tuesday after hitting an all-time high in a wild session that saw supporters of the token once considered a parody use hashtags to fuel a rally until it lost steam.

Meme-based cryptocurrency Dogecoin fell on Tuesday after hitting an all-time high in a wild session that saw supporters of the token once considered a parody use hashtags to fuel a rally until it lost steam. Dogecoin ultimately fell 15.4 per cent to US$0.33, but during the session when it hit a record peak, its market capitalisation soared to more than $50 billion. After the slump, its market cap dropped roughly $45 billion, according to coinmarketcap.com. By comparison, the wildly popular bitcoin has a market cap of more than $1 trillion. Dogecoin fans used the hashtags #DogeDay and #DogeDay420 to post memes, messages and videos on Twitter, Reddit and TikTok, referring to the informal April 20 holiday to celebrate cannabis which is marked by smoke-ins and street parties. "GIMME THAT DOGECOIN LAMBO!!! #DogeDay" one tweeted, referring to the Lamborghini sports car popular in crypto culture. An 8,000% price increase this year has seen Dogecoin, launched as a satirical critique of 2013's cryptocurrency frenzy, overtake more widely-used cryptocurrencies like Litecoin and briefly Tether, to become the sixth-largest coin. "The current retail fervor probably won't completely give up on Dogecoin," said Edward Moya, senior market analyst at online FX trading platform OANDA, but he did anticipate the "sell the event reaction" for the cryptocurrency. Dogecoin's logo features a Shiba Inu dog at the center of the meme. It can be traded on crypto exchanges and more popular mainstream trading apps. "The Doge rally represents an interesting convergence," said Diana Biggs, CEO of crypto start-up Valour, after Dogecoin's price soared by more than five-fold in the last week to a record $0.42, according to CoinMarketCap. "A meme coin created as a joke for early crypto adopters whose community found that kind of thing to be fun, with now a new generation of retail investors for whom memes are a native language," Biggs added. Online trading Dogecoin's rise came during a surge in online trading of stocks and crypto by retail investors, stuck at home with extra cash because of the COVID-19 pandemic. The coin has not seen much growth in usage for payments or in commerce. A boom in usage of online trading apps like Robinhood also fueled the social-media driven rally in GameStop Corp stock this year, which pitted retail investors against hedge funds. "It's an extension of the same phenomenon that has led Tesla stock to be valued well beyond fundamentals and more recently to the GME (GameStop) short squeeze," said Ajit Tripathi, head of institutional business at decentralised finance startup Aave. Like other cryptocurrencies, Dogecoin's price is heavily influenced by social media users including Tesla chief Elon Musk, whose tweets on the cryptocurrency in February sent its price soaring over 60 per cent. Dogecoin currently has a 16.7 per cent implied probability to be worth more than $1 at the end of 2021, according to betting aggregators US-Bookies.com, a significant improvement from earlier this month, when it had just a 2.9 per cent chance to do so. (With inputs from agencies)

Dogecoin cryptocurrency slumps after hashtag-fueled surge to record high

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