Tesla Now Accepting Dogecoin for Certain Items, DOGE Price Rallies

Traders moved swiftly, sending DOGE prices soaring by more than 17% in the last 24 hours.

According to a frequently asked questions section on the official Tesla website, Elon Musk, a supporter of Dogecoin and CEO of Tesla, has reportedly added Dogecoin as a payment option for various Tesla items. This comes after Elon Musk mentioned a month ago that Tesla may take Dogecoin as payment for its vehicles in the future.

In response to the announcement, traders moved swiftly, sending the price of DOGE soaring by more than 17% in the last 24 hours, reaching $0.1629 as per data from CMC. Despite all the talk in the crypto world, Tesla still hasn’t said if Dogecoin may be used to pay for Tesla vehicles.

Few Conditions

Electric vehicle maker Tesla, owned by billionaire Elon Musk, has begun taking Dogecoin at Tesla shops. As stated in a Dogecoin help page on the Tesla website, consumers may find the Dogecoin symbol in the “order” page of Dogecoin-eligible items. According to Wayback Machine, the most recent change to the page was on May 4th, 2023. Dogecoin wallets are the sole way to buy Tesla things.

However, paying using Dogecoin does come with a few conditions. One can’t combine funds from several Dogecoin wallets into one order, one can’t change or cancel an order once it’s been made, and returns are not acceptable once anyone buys anything with Dogecoin.

In March, Elon Musk pumped up an audience at the Tesla Gigafactory, close to Berlin, Germany, about the meme coin. In response to a question on when customers may pay with Dogecoin, Musk said that he believes the firm “should enable that… at some point.”

Highlighted Crypto News Today:

Crypto Investments Gaining Traction Among Pension Funds as per Report