DOGE to USD
“I’ll keep supporting Dogecoin’s price,” Musk tweeted late Friday night.
Coin spikes after tweet
Doge spiked in early morning trading Monday in North America, CoinMarketCap data showed.
DOGE is also well down from its May 2021 peak of 74 cents.
In mid morning Asia trading, DOGE was changing hands for $0.06023 a token.
SHIB to USD
Musk’s comment came after he had remained silent on Twitter about DOGE for an extended period.
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Kevin Johnson filed the legal action in New York under the Racketeer Influenced and Corrupt Organizations Act, known as RICO.
If a RICO lawsuit succeeds, the plaintiff is awarded triple damages plus attorney’s fees.
Reuters reported that Johnson is seeking $68bn in damages – the amount of DOGE’s decline since May 2021 – and wants the total to be tripled.
Johnson also wants the judge to deem DOGE as gambling under federal and New York law.