Is Dogecoin (DOGE) becoming Tesla’s official cryptocurrency? The company has added payment options on its official shop, for certain products. This has caused the altcoin’s price to jump.
Tesla adds Dogecoin payments to its store
You still can’t buy an electric car with Dogecoin, but some Tesla-related products are now listed in DOGE. This is the case, for example, of the “Cyberquad” for children, which is offered for 12020 DOGE ($2,340 at the current price):
Tesla offers some products for DOGE (Source: Tesla)
The news was reported by an enthusiastic Doge community, including Dogecoin co-founder Billy Markus:
yo
it’s happening! dogecoin doge4teslahttps://t.co/aYKGdYjJ5h pic.twitter.com/271DIW8oFJ
– Shibetoshi Nakamoto (@BillyM2k) January 14, 2022
On the site’s information page, we learn that Tesla only accepts Dogecoin, and there is no mention of a possible addition of another cryptocurrency. As a reminder, the company had in the past added Bitcoin (BTC), before abruptly removing it, citing environmental reasons.
This addition is not a surprise: Elon Musk had announced in December that the site would start displaying some prices in DOGE soon. It’s unclear whether Tesla will eventually accept payments in DOGE for its electric cars.
Dogecoin price jumps
Elon Musk has already shown his influence on the Dogecoin price, as he is widely seen as the reason for the renewed interest in the cryptocurrency. And it seems that the Elon effect, or at least the Tesla effect, is still visible today.
Last night, the price of DOGE jumped +33%, breaking the $0.20 threshold again:
DOGE price jumps on Tesla addition (Source: TradingView, DOGE/USDT)
It is thus clearly detached from other crypto-currencies, which continue to evolve in a rather morose context: Bitcoin (BTC) loses -1.8% over the last 24 hours. Dogecoin is on the doorstep of the top 10 most capitalised cryptocurrencies, with a market cap of over $26 billion.
The addition of Dogecoin on Tesla seems to allow the cryptocurrency to consolidate its image in any case. The altcoin has started to break away from its meme status: it recently published its first ever roadmap. Is the crypto-currency mad dog coming into line
?
