The price of Dogecoin (DOGE) has been going up after payment using the meme coin went live on Tesla’s online shop.
DOGE has risen by more than 4000% since Musk first tweeted about it in 2019.
According to CoinGecko data, DOGE’s price has increased by more than 17% over the last 24 hours. DOGE traded at around $3.8Billion in volume since December 14, with a total market capital of $3.8B.
Tesla CEO Elon Musk has been supporting and promoting Dogecoin on several platforms including US television during interviews and at one time he called Dogecoin ‘’the future of currency’’ during a Saturday Night Live Skit.
Also, on Musk’s social media post, his DOGE mentions are always associated with significant price movement. He first mentioned Dogecoin on Twitter by calling the crypto ‘’pretty cool’’ on 2nd April 2019.
Elon Musk opened Bitcoin payments for Tesla cars in March 2021. The payments were stopped two months later when Bitcoin went green. It was not long before Tesla began making EVs and resumed Bitcoin payments. BTC payments were resumed in October of the same year.
Musk stated last month (December 2021), that Tesla would soon accept Dogecoin payments for its merchandise. Dogecoin payments for Tesla online shops have gone live, and some items are true to Musk’s word.
What can customers buy
Customers now have the ability to choose from a range of products using the DOGE currency.
— Sawyer Merritt (@SawyerMerritt) January 14, 2022
Some of the selected items that customers can purchase using the meme coin include a “Giga Texas Belt Buckle” for 835 DOGE (US$166), a cyberwhistle for around 300 DOGE (US$59), and an electric cyberquad for 12,020 DOGE (US$2,391).
Musk is the owner of Ether (ETH), Bitcoin(BTC), and Dogecoins (DOGE). According to Bitcoin treasuries, Tesla holds approximately 42,900 BTC on its corporate financial balance sheet. It is second only after MicroStrategy.