‚The lawsuit accuses Musk of participating in a racketeering scheme to support the meme-based cryptocurrency.

Court records claim that two wallets associated with Musk sold 1.4 billion Dogecoins, amounting to over $124 million, during a two-day period in April.

However, Musk's attorney, Alex Shapiro, dismissed the claims, stating that they are baseless and lack evidence. ‚