Tesla CEO Elon Musk has announced that the electric car maker will now accept Dogecoin for purchasing merchandise.
Dogecoin shoots up more than 15%
The price of the Dogecoin instantly skyrocketed to a monthly high above USD 0.20. This in response to the news that the DOGE token can now be used for payments in the Tesla store.
Elon Musk shared the news on Twitter, saying that the company’s merchandise is “purchasable with Dogecoin”.
Tesla merch buyable with Dogecoin
— Elon Musk (@elonmusk) January 14, 2022
As can be seen in the chart below, the Dogecoin price rocketed more than 15% to a high of USD 0.210370.
The meme coin is now back at the same level it was on December 14, when Musk first announced DOGE’s integration.
“Tesla will buy some merch from Doge and see how it goes,” Musk said at the time.
Do you want to trade DOGE on one of the largest and most reliable exchanges in the world? click here and go to KuCoin.
What can you buy in the Tesla store?
Currently there are only a few items available in the Tesla store that you can buy with DOGE. For example, consider the Giga Texas Belt Buckle, which is for sale for 835 DOGE. There is also a Cyberwhistle for 300 DOGE and a Cyberquad for children, which is available for 12,020 DOGE.
Last year, Tesla started accepting Bitcoin as payment for its electric vehicles. However, the company dropped out due to concerns about the negative impact of the leading cryptocurrency on the environment.