Elon Musk Accused of Insider Trading After Hyping and Profiting From Dogecoin Price Swings

Elon Musk is facing a lawsuit alleging he used social media posts and publicity stunts to drive up the price of Dogecoin for his own profit.
Musk then allegedly let the price crash, harming investors, according to the proposed class action lawsuit.
The lawsuit accuses Musk of engineering a "deliberate course of carnival barking, market manipulation and insider trading" to profit from Dogecoin.
Musk hyped Dogecoin on Saturday Night Live and changed Twitter's logo to Dogecoin's, sending the price up 30% before selling $124 million of the cryptocurrency himself.
Investors allege they missed out on billions of dollars due to Musk's alleged scheme.