Elon Musk Announces Dogecoin (DOGE) Adoption at Tesla, Ignites Memecoin Explosion

Tech billionaire Elon Musk is at it again, sending Dogecoin (DOGE) prices soaring with a simple, five-word tweet.

On Thursday night, the Tesla CEO tweeted confirmation of much-anticipated news: Tesla customers can now purchase merchandise with the original memecoin.

Tesla merch buyable with Dogecoin

— Elon Musk (@elonmusk) January 14, 2022

The announcement was no surprise as Musk confirmed plans last month to begin accepting the dog-themed crypto as payment for select merch.

Tesla’s Dogecoin support page confirms the news, stating,

“All eligible Tesla products will be clearly priced in Dogecoin. 

This price will include any applicable taxes.”

Only certain merchandise items are available for DOGE payments, such as the Giga Texas Belt Buckle (835 DOGE), Cyberwhistle (300 DOGE) and the Cybertruck-inspired Cyberquad for Kids (12020 DOGE).

In response to the news, DOGE jumped 23% from a 24-hour low of $0.16 to a 24-hour high of $0.20.

Dogecoin has since corrected slightly and is trading for $0.19 at time of writing, a 16.24% increase over the past 24 hours.

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Featured Image: Shutterstock/Almujaddidi