Elon Musk denies he is a Dogecoin whale

Elon Musk is no Dogecoin whale. At least that's what his lawyer claims in the course of the latest lawsuit against the Tesla boss.

Elon Musk denies allegations that he sold large quantities of the memecoin DOGE. This reports the New York Post.

According to the report, his lawyer has denied in writing that Musk was the owner of certain Dogecoin wallets containing particularly large amounts of the cryptocurrency.

Since early June, the CEO of Tesla and SpaceX has been on trial for possible insider trading. He is accused of manipulating the price of memecoin Dogecoin and enriching himself.

The entrepreneur allegedly promoted the fun token to artificially drive up the price. He then sold Dogecoin worth several million US dollars.

According to prosecutors, investors suffered billions of US dollars in damages from his alleged price manipulation and the resulting DOGE sell-off.