Elon Musk’s Beloved Dogecoin Added as Tesla Payment Option

Tesla's website now lists Dogecoin (DOGE) as an official payment method for select merchandise, marking a significant milestone for the meme-inspired cryptocurrency.

The inclusion has sparked a surge in DOGE prices, climbing over 15.9% in the past 24 hours to reach $0.1623.

While Tesla only accepts DOGE for specific items in its online store, the move underscores Musk’s ongoing support for the digital asset.

Musk, known for his tweets about Dogecoin, has previously hinted at the possibility of using DOGE to purchase Tesla vehicles in the future.

Despite starting as a joke in 2013, Dogecoin has gained substantial traction, with a market value of $23 billion. Musk’s advocacy has played a pivotal role in driving DOGE’s meteoric rise, culminating in its all-time high of $0.73 in May 2021.

With Musk’s continued interest in cryptocurrencies, particularly Dogecoin, enthusiasts speculate on the potential for DOGE to surpass the $0.20 resistance level and eventually reach the coveted $1 mark.

The addition of DOGE as a payment option on Tesla’s website further fuels optimism among Dogecoin supporters.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.