Dogecoin up 16% today on news of acceptance as payment for Tesla merch

Payments in Dogecoin went live on the Tesla store in Asian hours today. At the time of writing, the dog-themed crypto meme coin had added 16% to its value. As of January 14, you can buy belt buckles, chargers, and other merchandise from Elon Musk’s company, CoinDesk reported.

Cyberquad for Kids, Cyberwhistle, and more

The shop displays prices in both U.S. dollars and Dogecoin for some items. For example, you can buy the Cyberquad for kids for 12,020 DOGE. This vehicle was inspired by Tesla’s Cybertruck design, the four-wheel ATV features a full steel frame, cushioned seat and adjustable suspension with rear disk braking and LED light bars.

Powered by a lithium-ion battery with up to 15 miles of range and a configurable top speed of 10 mph, Cyberquad for Kids is suitable for anyone 8-years old and up. 

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The Giga Texas Belt Buckle sells for 835 DOGE, while a Cyberwhistle goes for 300 DOGE. Many items can only be paid for in USD, however, like all of their drinkware (decanters, stainless steel water bottles, etc.)

Not a long time in coming

Dogecoin was trading at $0.20 at the time of writing and is the world’s 11th largest cryptocurrency with a market capitalization of almost $27 billion. Less than a month ago, Tesla CEO Elon Musk announced that his company would start accepting dogecoin.

In 2021, Tesla started accepting bitcoin as payment for its electric cars. The project was dropped soon thereafter due to escalating concerns about Bitcoin’s energy usage.

Musk’s love affair with Dogecoin

Musk, who was Time magazine’s person of the year in 2021, continues to support Dogecoin development and adoption and has tweeted about it regularly. He posted a picture of a rocket next to the moon with the word “Doge” under the post in February last year.

Dogecoin’s price surged thereafter, as it did later that month, after he posted an edited picture from “The Lion King” with a Shiba Inu as Simba.

In May, the billionaire tweeted that he was working with Dogecoin developers to improve system efficiency, sending the price up 22%. However, he isn’t as extreme as many believe. He said he “doubts that crypto will replace fiat currency” in a recent interview.  

About Dogecoin

Dogecoin is based on the popular “doge” Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013.


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