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Earlier this year, Tesla announced that it has started accepting DOGE for merchandise purchases. Musk said the plan could be extended to his space exploration company SpaceX. “Tesla merch can be bought with Doge, soon SpaceX merch too,” Musk tweeted.
Musk’s Continuous Influence On Dogecoin
Dogecoin’s increasing popularity has been a result of the high support the meme-based token has received from people like Elon Musk, who is the Chief Executive Officer of Tesla.
The world’s richest man has been a staunch Dogecoin supporter since 2019. He has always expressed a desire to allow his multi-billion dollar empires to accept DOGE payments.
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Some of his pro-Dogecoin tweets have had a positive impact on the cryptocurrency. Whenever he speaks about the token, it seems likely to surge a little, and investors are always looking to cash in on the hype. This time, the cryptocurrency surged nearly 15% shortly after the news about SpaceX accepting Dogecoin broke out. However, like other similar spikes, it soon gave away most of its gains.
In December 2021, DOGE’s price surged 25% after Musk revealed that Tesla will start accepting the meme token as payment for its electric cars. At a point, the entrepreneur stated that he thinks Dogecoin as a means of payment will be a better option than Bitcoin or any other token.
Subscription For Starlinks With DOGE Could Follow
Musk didn’t say when the DOGE payment option will be available to the public. He also indicated that customers could be allowed to pay for his Starlinks internet subscriptions in the future.
In May last year, SpaceX accepted payments in DOGE for the spaceship’s lunar mission dubbed “DOGE-1 Mission to the Moon”. Then, the entrepreneur noted that Dogecoin would be the first crypto asset in space.
For now, the company still lists items on its online store in dollars. So, the platform could still be working on the integration of the DOGE payment system on the platform.
Despite the massive promotions and widespread publicity, Dogecoin has received, the meme token has struggled since last May when it reached an all-time high of $0,74. As of the time of writing, the token is worth about $0.08.
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