Elon Musk's Tesla Now Accepting Dogecoin as Payment Option, Resulting in 20% Increase in DOGE Price

by Giorgi Kostiuk

2 years ago

A recent update from Elon Musk's Tesla states that Dogecoin can now be used as a payment method for purchasing Tesla products. Following this announcement, the price of DOGE has surged by over 20%, marking an impressive rally.

Elon Musk, a known supporter of Dogecoin and the CEO of Tesla, has made it possible to pay for certain Tesla products with Dogecoin, as mentioned in the FAQs section on the Tesla website.

This decision comes shortly after Musk hinted at the potential inclusion of Dogecoin as an official payment option for Tesla vehicles in the future.

In response to this development, traders have reacted quickly, leading to a significant increase in the price of DOGE by more than 20% within the last 24 hours, reaching a value of $0.16 per coin.

Despite the excitement within the cryptocurrency community, Tesla has not yet officially confirmed if Dogecoin can be used as payment for Tesla cars.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Uncertainty Grows for CLARITY Act Passage in 2026

Uncertainty grows for the CLARITY Act passage in 2026 as Alex Thorn of Galaxy Digital revises the probability from 75% to 60% due to a crowded Senate schedule.

Andrew Smith4 hours ago

US Treasury Secretary Discusses Strategic Bitcoin Reserve Progress

US Treasury Secretary Scott Bessent provided an update on the Strategic Bitcoin Reserve initiative, highlighting the complexities of establishing the reserve due to Bitcoin being a new technology.

Jacob Williams4 hours ago

Kraken Opens Registration for SpaceX IPO Interest

Kraken has opened a path for eligible customers in over 110 markets to register interest in SpaceX before public trading begins, offering SPCXx tokens backed by underlying shares.

Zainab Kamara6 hours ago

Crypto Analyst Predicts XRP Price Surge by 2032

Crypto analyst Crypto Patel predicts that XRP could surge to between $10 and $20 by its 20th anniversary in 2032, reflecting on its history and resilience despite past challenges.

Son Min-ho7 hours ago

Crime Coins Surge with High Volatility in Cryptocurrency Market

The cryptocurrency market has seen a rise in crime coins, marked by rapid price increases and high volatility, with significant trading volumes and risks of substantial losses.