Dogecoin (CRYPTO: DOGE) appears poised for a parabolic run based on technical chart patterns, with analysts predicting a significant rally ahead. What Happened: Elon Musk on Tuesday teased Dogecoin with a post calling himself “The Dogefather.

On Tuesday, President-elect Donald Trump picked Musk and biotechnology company founder Vivek Ramaswany to lead a new Department of Government Efficiency, whose acronym echoes dogecoin's name. The case is Gorog et al v. Musk et al, U.S. District Court, Southern District of New York, No. 22-05037.

Dogecoin investors who said Musk and his company Tesla committed fraud and insider trading are withdrawing their appeal from an August 29 dismissal of their case.