Elon Musk’s Tesla Adds Dogecoin As Payment Method, DOGE Price Rally 20%

Dogecoin fan and Tesla CEO Elon Musk has reportedly added Dogecoin as a payment method for some Tesla products, according to the FAQ section of Tesla’s official website. This comes a month after Elon Musk hinted that he would accept Dogecoin as an official payment method for cars at some point in the future.

Traders immediately reacted to the news, with DOGE price surging over 20% in the past 24 hours, with the price hovering at $0.16. Despite buzz in the cryptocurrency community, Tesla has not confirmed whether Dogecoin will be accepted as payment for Tesla cars.

Dogecoin now available as a payment option on Tesla’s website

Elon Musk’s electric car maker Tesla has started accepting Dogecoin as a payment method at Tesla Shops. According to Dogecoin’s support page: tesla On the website, customers should look for the Dogecoin symbol next to the “Order” page for Dogecoin eligible products.Street wayback machinethe most recent update to the page was made today, May 4th.

Tesla products can only be purchased through the Dogecoin wallet. “All eligible Tesla products are priced explicitly in Dogecoin. According to the FAQ, this price includes applicable taxes.”

However, there are some conditions for paying with Dogecoin. These include not accepting payments from multiple wallets for a single order, once placed an order cannot be canceled, and returns are not applicable for items purchased with Dogecoin.

“Tesla only accepts Dogecoin. Tesla cannot receive or detect other digital assets. Make sure you are purchasing with Dogecoin.”

In March, Elon Musk promoted meme coins to a crowd at the Tesla Gigafactory near Berlin, Germany. When asked about when the electric car maker will start accepting Dogecoin as payment for cars, Musk said he thinks the company “should be able to do that at some point.”

DOGE price increases by more than 20%

DOGE price has increased over 20% in the past 24 hours and the price is currently trading at $0.16. The 24-hour low and high prices are $0.137 and $0.161, respectively. Furthermore, trading volume has surged over 90% in the past 24 hours, indicating great interest among traders.

Total open interest in Dogecoin futures increased by 26% in 24 hours, with open interest jumping more than 9% in the past four hours, according to data from CoinGlass. This indicates heavy buying by futures traders.

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