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US Judge Dimisses Class Action Dogecoin (DOGE) Lawsuit Against Elon Musk and Tesla

Published

3 weeks ago

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A US judge tossed the class action lawsuit accusing Elon Musk and his company Tesla of manipulating the Dogecoin (DOGE) market.

A group of disgruntled DOGE investors sued Musk in 2022, accusing the business magnate of orchestrating a pump-and-dump via a series of public comments about the popular memecoin.

Musk’s lawyers have filed multiple motions to dismiss the lawsuit, and the Dogecoin investors responded by filing amended complaints.

That back-and-forth ended this week when District Judge Alvin K. Hellerstein sided with Musk’s legal team and closed the case.

Hellerstein drew attention to the specific Musk quotes highlighted in the complaint, noting that he “failed to see” how the Tesla CEO manipulated the market or facilitated a pump-and-dump.

“These paragraphs allege statements by Musk on ‘Twitter’ to the effect that Dogecoin might be his favorite currency and that he had purchased some for his son, that Dogecoin is the people’s crypto and the future currency of Earth, that Dogecoin might become the standard for the global financial system and the currency of the internet, that Musk agreed to become Dogecoin’s CEO, and that Musk might put a ‘literal’ Dogecoin in SpaceX and fly it to the moon and that Dogecoin would pay for the mission, that Tesla vehicles could be bought with Dogecoin, and the like.

These statements are aspirational and puffery, not factual and susceptible to being falsified. They cannot be the basis of 10b-5 lawsuit… and no reasonable investor could rely upon them.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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doge

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

Published

5 days ago

on

September 14, 2024

By


Sep 14, 2024 19:57&nbspUTC

| Updated:

Sep 14, 2024 at 19:57&nbspUTC

By&nbspClark

Ripple (XRP) has successfully averted a potential sell-off after rebounding from a key support level. On the other hand, Dogecoin (DOGE) is gradually recovering at $0.10, while Shiba Inu (SHIB) struggles with low momentum and liquidity. As investors anticipate larger market movements for Ripple (XRP), Dogecoin, and Shiba Inu, many are turning to ETFSwap (ETFS) as a strategic investment option.

Ripple (XRP) Struggles To Maintain Safe Zone Alongside Dogecoin (DOGE) and Shiba Inu (SHIB)

Earlier this week, Ripple (XRP) dipped below the crucial $0.50 level, raising investors’ concerns as some worried about a potential sell-off. To the surprise of many, Ripple (XRP) picked up pace, holding a solid position above its critical support. 

According to a top analyst, this recent price increase has allowed Ripple (XRP) break out of a Falling Wedge pattern, effectively terminating a major Ripple (XRP) sell-off. Reports from CoinGecko reveal that the price of Ripple (XRP) is currently sitting at $0.536. 

Meanwhile, the price of Dogecoin (DOGE) is following suit as it recovers from a week-long bearish slump below $0.10. Now trading confidently above $0.10 with a 2% gain, Dogecoin (DOGE) aims to remove the second zero in its decimal value. Supported by rising media interest and increased retail trading activity, Dogecoin may potentially break resistance levels, as it tests new support levels near $0.0859.

In contrast, Shiba Inu (SHIB), the second largest meme coin, is still stagnating, showing little price movement and trading at approximately $0.00001317. The price of Shiba Inu (SHIB) has been below key moving averages, showing a significant lack of momentum, unlike Dogecoin. 

While Shiba Inu holds a reputation for leading meme coin gains this year, alongside Pepe (PEPE) and Dogecoin, some Shiba Inu investors worry about its potential this Q4. Currently, Shiba Inu is testing key support levels around $0.0000111, with its weekly chart showing a potential price reversal. 

ETFSwap (ETFS) Is Leading Investors Into A New Investment Scheme With ETFs

The ETFSwap (ETFS) platform is set to revolutionize the crypto market by providing access to highly valuable Exchange Traded Funds (ETFs) backed by Real World Assets (RWAs). Trading these ETFs is made possible through the power of tokenization and blockchain technology. 

With ETFSwap (ETFS) users will be able to buy and trade several ETF of different classes, including cryptocurrency, leveraged, commodity, and fixed-income ETFs. This platform has also partnered with MiCA regulated investment banks to ensure regulatory compliance. 

Despite being an emerging decentralized platform, ETFSwap (ETFS) is making headlines and breaking records in its ongoing presale, promoting top analysts to project over 10,000% growth for its native token, ETFS.

Investing in the ETFS token now grants users access to early ETF listings, governance rights in the ETFSwap ecosystem, and monthly token airdrops. These tokens also help boost trading performance by enabling low transaction fees. 

ETFSwap (ETFS) also allows users to engage in staking pools to earn up to 36% in passive income, while they enjoy up to 87% APR yield, and special discounts on trading costs.

To ensure standard trading security and privacy, ETFSwap’s smart contracts have been audited by the best cybersecurity and blockchain audit firm, Cyberscope. In line with this, the ETFSwap (ETFS) team has also completed a KYC verification process on SolidProof, assuring its users of a safe and transparent trading network.

Now, in its third and last presale, ETFSwap (ETFS) is seeing even more adoption as more investors are catching on to its potential for gains. In due time, ETFSwap (ETFS) will launch its own ETF, while it allows users to get more high value ETF recommendations through its advanced AI-backed ETF screeners and trackers. 

Wrapping Up

With more anticipation brewing for ETFSwap (ETFS), its token, currently priced at $0.03846, could potentially surpass top coins like Ripple (XRP), Dogecoin (DOGE), and Shiba Inu (SHIB). Thousands of investors are already taking advantage of its ongoing presale, purchasing over 500 million tokens in just a few months. 

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

Clark

Head of the technology.

#Press Release

This is a paid press release. Btcwires does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.





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Dogecoin Price to Hit 160-Day Barrier After Elon Musk’s Tweet: Bull Trap or Rally?

Published

2 weeks ago

on

September 8, 2024

By


Dogecoin price shows a modest 0.12% surge to $0.095 during the less volatile weekend. Along with the market upswing, the DOGE price recently bounced from the $0.09 floor as Billionaire Elon Musk shared a post on X about the Department of Government Efficiency with the D.O.G.E acronym. However, the sustainability of this recovery remains uncertain as DOGE approaches a multi-month resistance.

Dogecoin Price Climbs on Trump-Musk Collaboration

Former U.S. President Donald Trump announced during his Thursday speech at the Economic Club of New York that, if re-elected, he plans to establish a government efficiency commission in collaboration with Tesla founder Elon Musk.

In agreement with this proposal, Musk has actively promoted the idea of a government efficiency commission on X (formerly known as Twitter) with a post showcasing an AI-generated image of him and the acronym D.O.G.E.

The tweet triggered a sudden pump in DOGE price to hit a $0.095 high on Friday. However, this upswing may lack sustainability as the asset trades close to the multi-month resistance trendline at $0.1.

According to Intotheblock analytics, the potential buyers could face supply pressure from nearly 16 Billion DOGE from 242.8k Addresses before the $0.1 breakout. The holders, as mentioned earlier, are currently in a loss and could sell their asset at breakeven,

DOGE Price Awaits Major Breakout

Since last month, the Dogecoin price has traded between $0.115 and $0.091 at horizontal levels. This consolidation may reflect a lack of initiation from buyers or sellers, but the broader chart analysis shows the formation of a falling wedge pattern.

The chart pattern leads to a steady downtrend within two converging trendlines before the buyers give a massive breakout. By press time, the DOGE price trades at $0.095, while the market cap boosted to $13.9 Billion.

If the bullish momentum persists, the coin price could jump 5% before challenging major resistance from the overhead trendline. If sellers continue to defend this dynamic resistacne, the Dogecoin price could revert and chase $0.08 support.

Moreover, the dog-themed coin trading below the daily EMAS (20, 50, 100, and 200) hints the path to lead resistance is down.

Dogecoin PriceDogecoin Price
DOGE/USDT 1d Chart

On the contrary, a bullish breakout from the wedge pattern will accelerate the bullish momentum and set Dogecoin price prediction to $0.11, followed by $0.144,

Frequently Asked Questions (FAQs)

The recent surge in Dogecoin price, reaching $0.095, was triggered by Elon Musk’s tweet promoting the Department of Government Efficiency (D.O.G.E.)

Dogecoin is facing a key resistance level at $0.1, with potential supply pressure from nearly 16 billion DOGE held by 242.8k addresses

Dogecoin is showing a falling wedge pattern, typically a bullish indicator

✓ Share:

Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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‘Pains Me to Say It’: Large-Cap Memecoin To Keep Bleeding, According to Crypto Trader – Here Are His Targets

Published

3 weeks ago

on

August 30, 2024

By


Largely followed crypto analyst Altcoin Sherpa is warning that more weakness is ahead for one large-cap memecoin.

The pseudonymous trader tells his 221,500 followers on the social media platform X that Dogecoin (DOGE) could depreciate by over 10% from its current level, even after bleeding more than 20% this month.

Sherpa says,

“Pains me to say it but DOGE probably keeps bleeding until the $0.08s. I still think this is probably a decent one for this cycle for passive investors but eh.”

Based on the trader’s chart, he appears to suggest that the key levels to watch on Dogecoin’s potential move down are $0.0998, $0.0855 and $0.0736.

Image
Source: Altcoin Sherpa/X

Dogecoin is trading at $0.101 at time of writing.

Altcoin Sherpa also offers his take on Solana (SOL). According to him, Solana could revisit the $190 level over the short term if SOL overcomes a resistance level at around $165.

Says the analyst,

“A break of $165 would mean price probably goes to $190 in the short term. I still think $120 – $150 is a good place to accumulate SOL personally.”

Image
Source: Altcoin Sherpa/X

Solana is trading at $145 at time of writing.

Next up is the native token of decentralized finance (DeFi) platform Aave (AAVE). Sherpa says that he sees AAVE falling by at least 12% from its current level.

“AAVE had a decent bounce but I think that it’s still going to go to around $110 at a minimum. Would be patient. I’m not bidding DeFi until it has a sustained trend/move.”

Image
Source: Altcoin Sherpa/X

AAVE is trading at $125 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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