Dogecoin's Parabolic Move Continues, Up 25% Today
As of 11:45 a.m. ET, Dogecoin (CRYPTO: DOGE) is among the leading cryptocurrencies in terms of gains, having surged 25% over the past 24 hours.
This move was reported yesterday, highlighting the chief catalyst driving this meme token higher. Twitter CEO Elon Musk changed the primary logo on his app from the standard blue bird logo to the Shiba Inu dog logo used by Dogecoin. This was followed by a series of older tweets in which Elon Musk claimed that buying the social media platform and changing its logo to Dogecoin's "would [be] sickkk."
This move also comes amid an ongoing lawsuit alleging Elon Musk was involved in racketeering via his involvement in pumping Dogecoin higher. Musk's lawyers have sought to throw out the case, noting that the case "is a fanciful work of fiction that fails to state any actionable claim against Defendants Elon Musk and Tesla and must be dismissed in its entirety with prejudice."
Source Fool.com
