Dogecoin (DOGE) Price Prediction: Coin Risks Falling to August 5 Low

Dogecoin (DOGE) has remained largely unaffected after US District Judge Alvin Hellerstein dismissed a lawsuit against Elon Musk and Tesla

Dogecoin (CRYPTO: DOGE) price remained largely unaffected after a US District Judge dismissed a lawsuit against Elon Musk and Tesla, which alleged that they manipulated the coin’s price.

What Happened: Judge Alvin Hellerstein ruled that Musk and Tesla were protected by the First Amendment in their promotion of DOGE, reported Reuters.

The lawsuit, filed by Dogecoin investor Keith Johnson, claimed that Musk and Tesla engaged in a “Dogecoin Hustle” to drive up the price of the coin and then sell their holdings at a profit.

The judge, however, found that the statements made by Musk and Tesla were not commercial speech and were protected by the First Amendment.

“Defendant Musk’s and Tesla’s speech regarding Dogecoin at issue in this case pertained to matters of public concern and was thus fully protected speech under the First Amendment,” the judge wrote.

DOGE Price Action: At press time, DOGE was trading at $0.10, showing a 0.18% price decline and a 24% drop in trading volume over the past 24 hours.

Over the past seven days, the coin’s price declined 6.1%.

The apex cryptocurrency was priced at $23,183.

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