The latest: Dogecoin (DOGE) investigation into Elon Musk?

The latest: Dogecoin (DOGE) investigation into Elon Musk?

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Elon Musk is on the SEC's radar. 

Tesla and SpaceX CEO Elon Musk may have gotten himself into trouble over Dogecoin (DOGE),which he hasn't dropped from his tongue in recent months. The U.S. financial regulator, the Securities and Exchange Commission (SEC),has launched an investigation into Elon Musk's tweets, U.S. sources said.

Doge's tweets sparked investigation

Musk, who previously got himself into trouble with the SEC for tweeting about Tesla's private funding, may not get away with it very easily this time. Musk has been known to repeatedly tweet about the DOGE, even prompting the price to rise.

Some sources even claimed that the biggest Doge whale was Elon Musk, and that he was actually inflating his own portfolio with the tweets he sent. Now the investigation into Elon Musk's tweets has begun, according to a leaked allegation and sources close to the SEC.

DOGE doesn't slow down in his tweets

Elon Musk tweeted about the DOGE again on February 24, not much. Musk, who shared a pictured version of Dogecoin's mask on the moon, again raised the price of the DOGE by 25% with this tweet. Whether Musk did these things to manipulate the price or just for fun is unknown.

However, cryptocurrency markets are not yet subject to global regulation, and one wonders what the SEC will do about it. The SEC had previously imposed hefty fines on many famous names in the United States for advertising cryptocurrencies and failing to declare that they were charged for advertising.

Elon Musk's serious punishment for this reason, or similar steps against the Doge as he opened up to XRP, could shake up the market. The Doge price has fallen 6% in the last 24 hours.

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