Wednesday, March 22, 2023
HomeAltcoin NewsDOGE Dips With Market While Musk Laughs at SEC Investigation Rumor

DOGE Dips With Market While Musk Laughs at SEC Investigation Rumor

The coin that could well be the memest of all memecoins, dogecoin (DOGE), continues swimming in the sea of red today alongside the rest of the market. Meanwhile, Tesla supremo and the mover of markets Elon Musk seems quite amused by a rumor of a US Securities and Exchanges Commission (SEC) investigation.

At 09:46 UTC, DOGE, ranked 14th by market capitalization, trades at USD 0.051 and is down by more than 6% in a day, similarly as the majority of other coins in the top 20 club. DOGE dropped by 16% in a week, trimming its massive monthly gains to 512%. Moreover, it’s 1,937% higher compared to where it was a year ago.

And Musk is often placed in this specific context as the one whose tweets fuelled the DOGE rally, though it may come back to bite him. While its origin is currently unclear, a rumor started circulating the Cryptoverse that the American regulatory SEC may be looking to investigate Musk for his posts related to DOGE. News service First Squawk cited “sources familiar with the matter.”

The SpaceX chief seems not to fear such a prospect – instead, he described a potential investigation of that kind as “awesome.”


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