Musk Wins Case, Will X Integrate Dogecoin?
- WBOYOriginal
- 2024-09-01 21:16:31990browse
On August 29, the court dismissed the case which sought $258 billion in damages from Musk as we reported earlier.
A U.S. District Court Judge has dismissed a lawsuit filed by a group of Dogecoin (DOGE) investors against Elon Musk and his company, Tesla. The investors had accused Musk of defrauding them through a series of manipulative tweets about DOGE.
However, Judge Alvin Hellerstein ruled that the plaintiffs' interpretation of Musk's tweets was mischaracterized and that "no reasonable investor" would make investment decisions based on those tweets. The court also stated that Musk's statements were "aspirational and puffery, not factual, and susceptible to being falsified."
Following this dismissal, Doge enthusiasts are now focusing on the potential integration of the meme coin into X, an "everything app" that Musk is developing. Last year, Musk announced that he would introduce "super interesting" payment features to X.
An X user, known as Swak, has been leaking upcoming features from the X app and recently disclosed that the payment features are in development. While there is no direct mention of DOGE in these developments, Musk's recent statement about having a "soft spot" for the meme coin has sparked hopes among DOGE holders.
Meanwhile, an analyst named Kenobi has predicted that Dogecoin could reach $6 by 2025. According to Kenobi's analysis, the asset has been "erasing a zero" every four years. However, based on DOGE's performance in the current cycle, it may not delete another zero until after 2026.
At the time of writing, DOGE was trading at $0.10, down 9.9% in the last seven days.
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