Following Tesla’s announcement that it would begin accepting the meme coin, Dogecoin temporarily surpassed the $0.2 price range. Elon Musk, CEO of Tesla, said on Twitter that the automaker would finally begin accepting Doge, a milestone that the meme coin community had been eagerly anticipating.
Musk, a huge supporter of Doge, has teased this adoption several times in the past. Then, in December, it was announced that Tesla would begin testing Dogecoin payments using its goods. Following this news, the price of the meme currency had also risen. This time, it jumped 27 percent to temporarily trade above $0.2 after Musk’s post went online.
The news from Tesla provided a significant lift to Dogecoin, which had been drifting low at $0.175 in the early hours of Friday. This pushed the meme coin to a one-month high of $215.00. It has since lost ground below this level, although it is still trading above its one-week high of $0.192 at the time of writing.
Tesla merch buyable with Dogecoin
— Elon Musk (@elonmusk) January 14, 2022
It was widely reported that electric vehicle manufacturer Tesla would begin taking Doge payments. This has already been announced by the corporation. This time, it has officially started accepting Doge payments. So, while Doge holders can now spend their favorite meme coin at the world’s largest elector vehicle company, there is a caveat.
Users can currently only purchase products from Tesla using Dogecoin. It does not apply to its vehicles because the company stated that it was using this as a trial run to evaluate how taking the meme coin for payment would work.
For products that accept Doge payments, users will see the Dogecoin symbol next to the “Order” button on the site. They can connect their Doge wallet straight to the site to buy Tesla merchandise, which will be priced accurately in Doge to ensure that customers pay the exact amount. Users should be aware that they will not be able to cancel an order placed with Dogecoin.
