On Tuesday, Dogecoin (DOGE) surged after an SEC filing showed xAI had already raised $134.7 million in a fundraising and might seek $1 billion. However, DOGE experienced a reversal in its surge during the morning hours on Wednesday after Elon Musk stated that his artificial intelligence startup xAI was not involved in any fundraising program. 

Elon is raising $1B for https://t.co/4LgTqncSO1. A week ago he raised $135m from investors. Bottom line, he wants to compete with OpenAI and Anthropic.

— Gene Munster (@munster_gene) December 5, 2023

— 진 먼스터(@munster_gene) 2023년 12월 5일

DOGE’s value fell from $0.1057 to $0.0946, down about 1.1% in the past hour, undoing some of the gains from a 14% rally over the previous day. However, the coin has risen slightly to $0.0977 at press time.

On Tuesday, DOGE had jumped 7% following a U.S. Securities and Exchange Commission filing, which revealed that xAI, referred to as X.AI in legal documents, might attempt to raise up to $1 billion and had already raised $134.7 million.

See Also: ‘BUY $BTC’ Advert Appears In Leaked GTA 6 Game Trailer

참조: 유출된 GTA 6 게임 예고편에 'BUY $BTC' 광고가 나타남

Historically, DOGE has seen price increases following Musk’s comments and public posts due to his apparent fascination with the dog-themed meme token. 

In April, Musk hinted at DOGE payments on X, previously known as Twitter, suggesting dogecoin as a potential payment option for Twitter Blue, the site’s subscription service with premium features.

Musk’s electric car company, Tesla, already accepts DOGE payments for merchandise purchases in the Tesla Store.

머스크의 전기 자동차 회사인 Tesla는 이미 Tesla Store에서 상품 구매에 대해 DOGE 결제를 허용합니다.

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Elon Musk가 xAI 기금 모금을 거부한 후 Dogecoin의 가격이 하락하는 게시물이 BitcoinWorld에 처음 나타났습니다.