Dogecoin may face significant correction, as Twitter Sues Elon Musk
Tesla CEO is now in another legal hurdle because he decides to terminate the Twitter purchase deal.
Elon Musk is a popular personality in this world because of his success in his life as a billionaire and achievement with a better business model with SpaceX. He is the owner of many tech companies, including Tesla & SpaceX which are highly popular companies in the world. Elon is a big fan of Bitcoin, Ethereum & Dogecoin.
On 12 July, Giant social media platform Twitter initiated a legal complaint against Tesla’s CEO. According to the filed complaint, Twitter alleges that Elon Musk violated the terms of a merger agreement, which was signed by both Twitter Inc and Elon Musk.
Since the merger agreement, Elon only disrespected Twitter and the purchase deal.
This legal action by Twitter came just after the decision of Elon, who terminated the deal. According to reports, Elon decided to go back out of the Twitter purchase deal because Twitter refused to provide information relating to spam bots.
Crash Risk on DogeCoin
Initially, when Tesla’s CEO proposed his Twitter acquisition plan , the majority of the international celebrities supported Elon and tried to force Twitter to accept the purchase deal of Elon Musk. After that in the last week of April 2022, Twitter accepted the deal.
Due to the news of Elon’s Twitter acquisition plan, dogecoin grabbed huge popularity & traction in the crypto & non-crypto industry.
Almost every news story started speculations that Elon will introduce the dogecoin payment feature on the Twitter platform. All these things pumped dogecoin significantly.
But now the current situation is going against Dogecoin because on one side Elon is not willing to buy Twitter and on the other side, Twitter initiated legal action against Elon Musk.
Doge price action
The current price of $Doge is $0.01647 and thus price is 8.93% down by 24 hours trade price.
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