• Elon Musk refutes claims that he is the mysterious Dogecoin whale in an ongoing class-action lawsuit.
• The Dogefather was accused of selling off 1.4 billion Dogecoin tokens, worth $124 million at the time, right after Twitter logo switched to Shiba Inu.
• Elon Musk stirred up the crypto pot by calling out the “Explain This Bob” AI bot linked to the $BOB memecoin, leading to its suspension and a 35% drop in BOB’s value.
Elon Musk Denies Owning Dogecoin
The ongoing class-action lawsuit against billionaire innovator Elon Musk continues as his defense attorney Alex Shapiro refuted allegations that his client engaged in market manipulation and insider trading by selling off a colossal amount of 1.4 billion Dogecoin (DOGE) tokens, worth $124 million at the time. At press time, DOGE is changing hands at $0.062 according to CoinGecko with 1% weekly gains and hovering above the long-term support line since October 25th, 2022.
Musk Refutes Claims He Was „Doge Whale“
Musk maintains that he is not the mysterious DOGE whale making moves during last week’s bull run inspired by Elon’s Twitter takeover which led DOGE nearing $0.10 for the first time since then. Additionally, class-action suit also alleged that he took part in a “deliberate course of carnival barking” referring to public endorsement of Dogecoin on CNBC’s Saturday Night Live Show and a flurry of dog-themed memes posted on social media.
Elon Fires Shots at Bob, Memecoin AI Bot
Elon Musk stirred up more controversy on Twitter by calling out an AI bot associated with memecoin $BOB called „Explain This Bob“. The CEO concluded this account looked like a scam crypto account, leading to its suspension shortly thereafter and a 35% drop in BOB’s value before it later recovered some losses with a 10% spike. The bot had acquired over 400k followers prior to being banned due to crafting answers similar ChatGPT on Crypto Twitter topics .
Memecoin $BOB Tanks After Call Out By Musk
Affected by this move, memecoin immediately tanked following Elon’s callout reaching -35%, before recovering some losses with 10%. Created by Prabhu Biswal from India ,the chatbot had gained over 400k followers before it was suspended over accusations of being a scam crypto account made by none other than one of cryptocurrency’s most vocal advocates–Elon Musk himself!
Conclusion
Despite all these controversies surrounding him recently ,there is no denying that Elon remains one of cryptocurrencys biggest supporters having been vocally advocating for digital assets such as Bitcoin (BTC) and Ethereum (ETH).