DOGE Officially Added to Tesla’s Payment Options But There’s Catch

Cover Image via U.Today

In a recent development, prominent electric car manufacturer Tesla, led by Elon Musk, has officially added Dogecoin as a payment option on its website. The updated payments page now includes the crypto community's beloved meme coin.

Tesla Officially Embraces Dogecoin

However, Tesla currently accepts DOGE only for merchandise purchases through its online Tesla Shop. The addition notes that "Dogecoin may also be accepted on select products." Image via Tesla

Tesla first began accepting Dogecoin as an experiment in January 2022. At the time, Musk stated that it was a trial to gauge its feasibility. Various company merchandise, such as the Tesla Cyberwhistle and the "Giga Texas" belt buckle, became available for purchase using DOGE.

Later that year, SpaceX, another company led by Musk, followed suit by accepting Dogecoin.

DOGE Price Spikes 21%

In March 2024, during a visit to Giga factory in Berlin, Musk was asked by the audience if Tesla planned to implement Dogecoin payments for electric cars. Musk responded that they would likely add DOGE as a payment option in the future. This statement sparked an immediate 10% price surge in DOGE, though the rally was short-lived. Image via TradingView

As of this writing, the largest meme cryptocurrency, DOGE, is trading at $0.159, having surged by over 21% in the past 24 hours following the Tesla news.