An exciting update for Tesla customers has been revealed by Elon Musk, as Dogecoin is now accepted as a payment option for certain products by the company. This decision follows Musk's previous hints about considering Dogecoin as an official payment method for Tesla vehicles.

In response to this announcement, the price of Dogecoin surged by over 20% in just a day, reaching $0.16. Despite the enthusiasm within the cryptocurrency community, it is important to emphasize that Tesla has not yet confirmed whether Dogecoin can indeed be used for purchasing their vehicles.

Dogecoin Now Accepted at Tesla Stores

Tesla, the electric vehicle manufacturer spearheaded by Elon Musk, has announced that they will commence accepting Dogecoin as a payment method at Tesla Stores. Customers can visit a dedicated Dogecoin support page on the Tesla website to identify eligible Tesla products that permit Dogecoin payments by locating the Dogecoin symbol near the "order" section of relevant items. This update was put into effect as of May 4, according to the Wayback Machine.

Customers wishing to make purchases with Dogecoin must have a Dogecoin wallet. The pricing of all eligible Tesla products will be clearly indicated in Dogecoin, inclusive of any taxes, according to a FAQ section.

Nevertheless, buyers should be mindful of certain conditions when using Dogecoin for payments, such as restrictions on the utilization of payments from multiple wallets for a single order, no cancellations after placing an order, and no returns for items purchased with Dogecoin.

Dogecoin Payments Exclusively Accepted at Tesla

It is crucial to note that Tesla exclusively recognizes Dogecoin as a payment method and does not endorse other digital assets. This decision is in line with Musk's previous statements regarding Dogecoin, made during an event at the Tesla Gigafactory in Germany in March, where he expressed support for accepting Dogecoin as a payment option for Tesla vehicles in the future.

Dogecoin's Price Surge and Trading Activity

The price of Dogecoin (DOGE) has experienced a surge of over 20% in the past 24 hours, reaching $0.16. The price of the cryptocurrency fluctuated between $0.137 and $0.161 within the same time frame. A substantial increase in trading volume, rising by more than 90% in a day, indicates a significant interest among traders in DOGE.

Data from CoinGlass shows a remarkable increase in total Dogecoin futures open interest, surging by 26% in the last 24 hours. Additionally, there was a notable rise of over 9% in open interest in just the last 4 hours, suggesting a surge in buying activity by futures traders and enhancing the positive sentiment surrounding DOGE.

Please note that this article is for informational purposes only and should not be considered as legal, tax, investment, financial, or any other form of advice.