Elon Musk’s tweet about Tesla merchandise has resulted in a Dogecoin price increase

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Last Updated on May 28, 2022 by Bitfinsider

Within 24 hours of mentioning Doge, Tesla’s chief executive officer referenced it again.

Tesla products may now be purchased using Dogecoin, according to a Musk Doge tweet on Friday. He went on to say that Dogecoin might be used to buy SpaceX products too soon.

Customers will require a Dogecoin wallet to make purchases in Dogecoin. When using Dogecoin to pay, the payment page will show the Tesla Dogecoin wallet address as an alphanumeric code and a QR code. It will subsequently be possible to transfer Dogecoin by linking to the customer’s Dogecoin wallet.

Tesla stated that it is the purchaser’s obligation to guarantee that Dogecoin is correctly sent to Tesla’s wallet. Customers are also accountable for the fees associated with Dogecoin transactions, according to the statement.

Elon Musk was in the news on Thursday when Twitter investors filed a lawsuit accusing him of withholding information about his stake in the firm. Musk saved $156 million by omitting to declare his overall interest in the company as of March 14, according to the primary argument. They claim that by the day in question, he had purchased more than 5% of Twitter.

When Musk mentions Doge, the world’s largest meme cryptocurrency, its price has risen on many occasions. Whenever the Tesla CEO makes a huge announcement about his companies, the same thing happens.

The price of Doge skyrocketed shortly after Musk’s Doge tweet on Friday. After Musk’s post, the meme token surged to $0.08538, up from a 24-hour low of $0.07658. The token, on the other hand, was later corrected. According to CoinMarketCap, Doge is currently trading at $0.08346, up 4.30 percent in the last 24 hours.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.