According to CoinGecko, the price of the seventh-largest cryptocurrency by market capitalization rose 8.9% to $0.08. This is the highest price since April. At the same time, DOGE’s trading volume exceeded $1.7 billion.
The day before, the “Д symbol appeared in the part of Elon Musk’s Twitter profile that is usually used to indicate location. The symbol was placed just behind the company’s new logo. Musk also retweeted a user under the pseudonym “DogeDesigner.”
In April, Musk abruptly changed the social network’s logo to a picture of the meme’s shiba-inu dog. In addition, the developers have changed the animation when the site is refreshed. Against this backdrop, the DOGE exchange rate briefly rose to $0.10.
Earlier, investors filed a lawsuit in Manhattan federal court, claiming Musk used his online influence to manipulate the DOGE exchange rate. The billionaire wrote tweets and enlisted the services of influencers to promote Dogecoin, and spoke about the memcoin on NBC’s Saturday Night Live program in 2021. These “publicity stunts” allowed Musk to profitably trade DOGE coins, the plaintiffs asserted. Musk, however, denies all the allegations.