<p>As all the leading cryptocurrencies get hammered, Tesla CEO Elon Musk has said he will keep supporting and buying Dogecoin, a cryptocurrency he has been vouching about for years.</p>.<p>Amid the 'crypto winter', Dogecoin digital currency has tumbled from its high of nearly $0.74 to just over $0.05 in recent days.</p>.<p>In a tweet on Sunday, Musk said: "I will keep supporting Dogecoin."</p>.<p>Reacting to a follower who asked him to keep buying Dogecoin too, Musk replied that he will keep purchasing the cryptocurrency.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/elon-musk-sued-for-258-billion-over-alleged-dogecoin-pyramid-scheme-1118859.html" target="_blank">Elon Musk sued for $258 billion over alleged Dogecoin pyramid scheme</a></strong></p>.<p>Called 'Dogefather', Musk has long been a vocal proponent of Dogecoin and tweeted several times in the past to help spike the price of the digital token.</p>.<p>Last week, a Dogecoin cryptocurrency investor in the US sued Musk, Tesla and SpaceX for $258 billion for allegedly operating an illegal racketeering enterprise to inflate the price of Dogecoin.</p>.<p>A class-action lawsuit was filed in a federal court in Manhattan, and the Dogecoin investor called for triple the damages of $86 billion, which is how much the plaintiff alleges has been lost by Dogecoin investors since Musk started tweeting about it, according to reports.</p>.<p>"Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all," the plaintiff Keith Johnson said in the complaint.</p>.<p>"Since Defendant Musk and his corporations SpaceX and Tesla Inc began purchasing, developing, promoting, supporting and operating Dogecoin in 2019, Plaintiff and the class have lost approximately $86 billion in this Crypto Pyramid Scheme," he added.</p>.<p>Earlier this year, Musk announced that the company's supercharging stations will accept cryptocurrency Dogecoin as payment.</p>.<p>Tesla does accept Dogecoin in its online store and there have been rumours of Tesla eventually accepting the crypto as a form of payment for its vehicles.</p>.<p>Musk has a significant personal investment into Bitcoin on top of Tesla's investment and he has smaller Ethereum and Dogecoin holdings.</p>
<p>As all the leading cryptocurrencies get hammered, Tesla CEO Elon Musk has said he will keep supporting and buying Dogecoin, a cryptocurrency he has been vouching about for years.</p>.<p>Amid the 'crypto winter', Dogecoin digital currency has tumbled from its high of nearly $0.74 to just over $0.05 in recent days.</p>.<p>In a tweet on Sunday, Musk said: "I will keep supporting Dogecoin."</p>.<p>Reacting to a follower who asked him to keep buying Dogecoin too, Musk replied that he will keep purchasing the cryptocurrency.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/elon-musk-sued-for-258-billion-over-alleged-dogecoin-pyramid-scheme-1118859.html" target="_blank">Elon Musk sued for $258 billion over alleged Dogecoin pyramid scheme</a></strong></p>.<p>Called 'Dogefather', Musk has long been a vocal proponent of Dogecoin and tweeted several times in the past to help spike the price of the digital token.</p>.<p>Last week, a Dogecoin cryptocurrency investor in the US sued Musk, Tesla and SpaceX for $258 billion for allegedly operating an illegal racketeering enterprise to inflate the price of Dogecoin.</p>.<p>A class-action lawsuit was filed in a federal court in Manhattan, and the Dogecoin investor called for triple the damages of $86 billion, which is how much the plaintiff alleges has been lost by Dogecoin investors since Musk started tweeting about it, according to reports.</p>.<p>"Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all," the plaintiff Keith Johnson said in the complaint.</p>.<p>"Since Defendant Musk and his corporations SpaceX and Tesla Inc began purchasing, developing, promoting, supporting and operating Dogecoin in 2019, Plaintiff and the class have lost approximately $86 billion in this Crypto Pyramid Scheme," he added.</p>.<p>Earlier this year, Musk announced that the company's supercharging stations will accept cryptocurrency Dogecoin as payment.</p>.<p>Tesla does accept Dogecoin in its online store and there have been rumours of Tesla eventually accepting the crypto as a form of payment for its vehicles.</p>.<p>Musk has a significant personal investment into Bitcoin on top of Tesla's investment and he has smaller Ethereum and Dogecoin holdings.</p>