Tesla CEO Elon Musk boosts Dogecoin price again

Tesla CEO Elon Musk boosts Dogecoin price again

BUSINESS

Tesla CEO Elon Musk boosts Dogecoin price again

Elon Musk tweeted on Friday, “Tesla merch buyable with Dogecoin.”

01/14/2022

Tesla CEO Elon Musk boosts Dogecoin price again

Tesla permits customers to purchase its merchandise using dogecoin, electric-car maker’s CEO Elon Musk announced it on Twitter.

In mid-December last year, Musk initially unfolded a company plan that might involve his favorite meme-based digital currency. He said in a tweet, “Tesla will make some merch buyable with Doge & see how it goes.”

At that time, crypto enthusiasts were unsure if it meant accepting doge as a payment option for buying the company’s e-cars or something related to what they thought. 

The uncertainty becomes clear. The Verge stated that Tesla’s products buyable with DOGE include: the Cyberquad for Kids, the Giga Texas Belt Buckle, and the Cyberwhistle. 

 

Tesla CEO helps Dogecoin again

The beginning days of 2022 have become bumpy for Bitcoin, Ethereum, and other digital currencies in the crypto space. But the meme coin has to find a trouble-free path when Musk tweeted on Friday, “Tesla merch buyable with Dogecoin.”

After Musk’s single tweet, DOGE price escalated by 16% to around $0.20. According to CoinGecko, the meme’s price is up 9% to $0.187148 at the time of writing, 

What happened to DOGE price when Musk’s first time tweeting for the meme-flavored joke coin on February 4 last year? He posted an image of the newborn Simba from the Lion King with a Dogecoin head while his face pasted on Rafiki. 

It looked like Musk and Doge were in The Lion King’s scene, “Circle of Life”, with his statement “ur welcome”. The meme coin soared 57% in 24-hour trading.

Elon Musk gives support to crypto, or not

Additionally, Tesla CEO Elon Musk again tweeted about his SpaceX company with the meme coin on April 1 last year. He said, ”SpaceX is going to put a literal Dogecoin on the literal moon.”

It was another historic move, and dogecoin’s price jumped 28% an hour after he tweeted. So, it showed how Musk held the meme coin’s fortunes and became the most influential in the crypto space in 2021.

Not only dogecoin, but it seems true to bitcoin. Blockchain Research Labs released a report in 2021 regarding Musk’s Twitter influence. It stated, “If a single tweet could potentially lead to an increase of $111 billion in Bitcoin’s market capitalization, a different tweet could also wipe out a similar value.” 

Meanwhile, dogecoin appears now to turn into a more serious cryptocurrency. It is accepted as payment by other companies. 

By Marielle Petere Wozinga Staff

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