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”.