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Two days ago, the CEO of Tesla, elon musk, announced on twitter that the company began accepting Dogecoin as a payment option for all goods on the tesla store.
The store, which offers a wide range of manufactured and branded tesla products like kids quads, cordless portable chargers, garments for men and women, and accessories, has seen some of its products sold since integrating doge payments.
The announcement of tesla is a reality long expected by most Dogecoin users who hoped that the electric vehicle manufacturer would pave the way for institutional adoption before the turn of 2022.
In May 2021, users of a Twitter survey were asked whether they would like Tesla to accept Dogecoin. Thus, during an interview with the «techno tesla», prices dropped after he described the Dogecoin as «hustle and bustle».
On one set, elon musk had led the same coin to a record 12,000% increase in value all around.
In the last days of 2021, proponents began to visualize the potential of a Dogecoin and Starlink (Elon Musk’s internet company) corporation, and it was during this period that Elon volleyed DOGE back to the $0.2 mark, recording close to 35% value gains during a December tweet where he first announced an upcoming pilot test of Doge as a payment option for Tesla.
That, however, would not be the first try of tesla to explore the use of cryptocurrencies for payment. Back in March 2021, Elon Musk announced Tesla would begin accepting Bitcoin as a payment option, before ending it abruptly due to reasons such as energy consumption and negative environmental impact.
DOGE Price Charts
The announcement by the world's richest man, who doubles as a crypto super-influencer, raised the DOGE price of its low intraday by $1.16 up after the $0.2 mark. Over $4.5 billion worth of doges were traded during the period, an increase of 204.6%.
The rise brought the looming dollar meme coin closer to its all-time high and increased hopes of reaching the coveted $1 mark. Since then, Dogecoin has found comfort in the 11th position, after reaching a $25 billion market capitalization and peaking at the 5th position last April.
