Elon Musks’ tweets on Dogecoin have played a huge role in the rise of the meme token’s value. Recently, the Tesla CEO and SpaceX and Neuralink founder posted yet another tweet on Dogecoin. This time, Musk’s tweet stated that Tesla would start accepting Dogecoin payments for some merchandise.
While Musk didn’t reveal the exact details regarding the merchandise that can be bought through Dogecoin payments, his tweet sent the meme token’s value soaring once more. Following Musk’s tweet, Dogecoin saw a 24% rise. Tesla merchandise is priced in the range of $50 – $1900.
The company’s merchandise includes apparel, mini Tesla car models, belt buckles under the ‘Giga Texas’ name, and limited-edition merch such as the Cyberquad and the Cyberwhistle.
Elon Musk has been one of the most vocal supporters of cryptocurrencies – Dogecoin in particular. The Tesla CEO has always praised the meme token due to its high transaction speed. He has also criticized Bitcoin for its transaction speed and costs and said that the world’s biggest cryptocurrency isn’t fit to replace transactional money. This is why Tesla stopped accepting Bitcoin payments earlier this year after having started to accept them not even two months ago.
In a May 2021 Twitter poll, Musk had asked his 66 million Twitter followers whether they would like Tesla to accept Dogecoin payments. An overwhelming majority responded with affirmative answers, and it looks like Musk has listened to his followers.
Apart from helping Dogecoin climb up the crypto ladder, Musk’s tweets have also contributed to the rise of another meme token – Shiba Inu