- Tesla CEO Elon Musk has added popular meme coin Dogecoin as a payment method for some Tesla products, according to the FAQ section on Tesla’s official website.
- This comes a month after Musk hinted at accepting Dogecoin as an official payment method for their cars in the future.
- The news was met with immediate reaction from traders, causing the DOGE price to surge over 20% in the last 24 hours.
Elon Musk, Tesla CEO and Dogecoin enthusiast, adds Dogecoin as a payment method for some Tesla products, causing a significant surge in DOGE price.
Dogecoin now among payment options on Tesla’s website!
As followed on CoinOtag, Tesla CEO Elon Musk has always been a supporter of Dogecoin. His electric car manufacturing company, Tesla, has started accepting Dogecoin as a payment method in Tesla Stores. According to a Dogecoin support page on the Tesla website, customers need to look at the Dogecoin symbol next to the “order” page of Dogecoin-compatible products. It is possible to purchase Tesla products only through a Dogecoin wallet. The relevant page states: “All eligible Tesla products will have their prices clearly in Dogecoin. This price will include applicable taxes.”
Conditions for Dogecoin payments
However, there are some conditions when making Dogecoin payments. These include not accepting payment from multiple wallets for a single order, inability to cancel an order once placed, and no refunds for products purchased with Dogecoin. In this context, it is stated that “Tesla only accepts Dogecoin. Tesla cannot receive or detect other digital assets. Make sure you make your purchase transaction with Dogecoin.”
Meme coin price surges following the development!
Elon Musk introduced the meme coin Dogecoin to a crowd at the Tesla Gigafactory near Berlin, Germany, in March. It was a matter of curiosity when the electric vehicle manufacturer would start accepting Dogecoin as a payment for their cars. When asked, Musk said he thought the company “should enable this at some point”. The DOGE price has increased by more than 20% in the last 24 hours. The meme coin is currently trading at $0.1656. The lowest and highest prices in the last 24 hours were $0.137 and $0.1691, respectively. In addition, the trading volume has increased by over 90% in the last 24 hours, indicating a great interest among traders.
Conclusion
This development marks a significant milestone for Dogecoin and its community. The addition of Dogecoin as a payment method by a major company like Tesla not only validates the coin’s utility but also potentially opens up new avenues for its use. The immediate impact on the coin’s price demonstrates the market’s positive response to this news. It will be interesting to see how this move influences the future trajectory of Dogecoin and whether other companies will follow suit.
