In April this year, Musk made headlines around the world when he suddenly changed the logo of Twitter—the social media company he bought for $44 billion late last year—to the dogecoin dog,A U.S. judge said this week he would"likely" allow the third amended complaint, saying the defendants would not likely be prejudiced,, but granting the investors' request to dismiss the nonprofit Dogecoin Foundation as a defendant.
The dogecoin price rocketed 36,000% over two years, according to the filing, before it crashed back amid a wider crypto market sell-off. The early 2021 dogecoin rally, also coinciding with the broader crypto market surge, was helped by Musk, who repeatedly posted to Twitter about the meme-based cryptocurrency and talked it up on the NBC comedy sketch show Saturday Night Live in April 2021.