Dogecoin is the most popular meme coin in the crypto industry even though the developers of the coin claimed that it was born out of a fun experiment that grabbed huge attention in 2013.
After supporting the BTC, Tesla CEO, Elon Musk also pledged support for the coin as the best coin in terms of payment. Due to Elon’s support, Doge surged by over 3,000 fold in 2021.
In the last couple of weeks, several sources have been teasing the imminent partnership between Tesla and Dogecoin.
Source code screenshots of the Tesla website were revealed by developers, showing Dogecoin being tested as a payment method. The news was confirmed earlier today by Billy Markus, founder of Dogecoin.
Details of the Dogecoin payment integration are still shown publicly, but it is not easy for non-tech people to see easily. However, a software engineer revealed steps on how non-tech persons can see the same.
Around a month ago, CEO of Tesla, Elon Musk announced on Twitter that Tesla will accept the coin as a payment option for merch payments.
The coin surged over 30% after the tweet of Elon Musk but failed to remain attached with the high price.
As of writing, Elon Musk’s Tesla has started accepting Dogecoin payments for some of its merch products online.
Consumers can now buy the 4-wheel ATV Cyberquad, Cyberwhistle and Giga Texas Belt Buckle with Dogecoin. Payments for these products are restricted to Dogecoin only.
Tesla’s Cyberwhistle accessory got sold out just an hour after the news. as it was selling for 300 DOGE, the cheapest among the listed Dogecoin items.
Since the announcement, Dogecoin prices are soaring as traders scramble to purchase the leading meme coin. The timing on Tesla’s acceptance of Dogecoin is still very surprising even though it was highly anticipated.
The announcement came in the midst of a bear market when major coins like Bitcoin and Ethereum are slumping.
DOGE prices have surged by 23% since yesterday and is currently the second-best gainer in the 24-hour period. Historically, Tesla and Elon Musk have a massive impact on crypto prices.
When Tesla confirmed Bitcoin payments last year, BTC prices were up by almost 30% in a week. Although we can’t make the same prediction for the coin, the news triggered a critical bull run for the meme coin
The leading meme coin is well-positioned for 2022 and its holders couldn’t have asked for a better start to the year. We expect to see a lot of massive changes to the coin ecosystem this year.
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