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BREAKING: Tesla Merch Can Now Be Bought with Dogecoin, DOGE Spikes 15%

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Fri, 05/27/2022 - 15:41
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Alex Dovbnya
Tesla initially made some merchandise payable with Dogecoin in January
BREAKING: Tesla Merch Can Now Be Bought with Dogecoin, DOGE Spikes 15%
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Tesla CEO Elon Musk has taken to Twitter to announce that customers can now buy the company's merchandise with Dogecoin.

SpaceX, a space manufacturer helmed by Musk, will also make it possible to pay for merch with dog money in the near future.

The leading e-car maker announced that its customers could start buying select items, including the Cyberquad for Kids, with the meme cryptocurrency in January. However, it now appears that all products will be buyable with the top meme coin.

The price of Dogecoin instantly soared 15.8% on the announcement before giving up some gains. The Bitcoin parody peaked at $0.09 after sliding to as low as $0.076 earlier today on the Binance exchange.

This is the second time that Musk has tweeted about his favorite cryptocurrency within 24 hours. Yesterday, his tweet only managed to push the price of DOGE higher for 26 seconds before it pared all gains.

While Dogecoin's price performance has been abysmal in 2022, Musk, who remains the richest person on the planet, helps to keep it afloat. In March, the Tesla boss confirmed that he had not sold the meme coin.

The tech mogul is also on track to acquire Twitter, which is viewed as a bullish development for Dogecoin. As reported by U.Today, Musk suggested adding DOGE as a payment option on the influential social media platform so that users could pay for their premium subscriptions with the meme coin.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.