The Dogecoin community speculated that electric car manufacturing company Tesla may add Dogecoin payment for some other products.
Tesla is a popular electric car manufacturing company, owned by top richest person Elon Musk. Musk is a big fan of Dogecoin (Doge) Cryptocurrency. In Jan 2022, Tesla started accepting Dogecoin payments for certain Tesla merchs.
The current trade price of Dogecoin (Doge) is $0.16 & this trade price is 19.8% higher over the last 24 hours.
#Dogecoin (Doge) pumps 20% within 6 hours pic.twitter.com/7XALAeTCDX
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— Bitcoinik (@Bitcoinikdotcom) May 4, 2024
The credit for the sudden increment in the trade price of Dogecoin goes to the new speculations around Dogecoin use.
According to some reports, Tesla is possibly going to accept Dogecoin for payments on certain products.
People are referring to a Dogecoin FAQ page, but the latest snapshot of the page is from 28th Feb 2024. However, the FAQ page has been around since at least January 2022. So, Tesla might be considering adding Dogecoin payments, but we’ll have to wait for official confirmation.
On 3 May 2024, a report by IntoTheBlock reported that a total of 28k new Dogecoin Crypto addresses were created on 2 May, a 102% increase from the monthly low set.
The price of Dogecoin surged sharply at the same time as other cryptocurrencies because the overall crypto market was recovering.
Here we can also consider this event as a parallel outcome to the job data report from the USA that came out that wasn’t as strong as expected. On Friday, Bitcoin’s price went up too.
Now it will be interesting to see whether Tesla CEO Musk will talk about Dogecoin or not because the future of Dogecoin is dependent on Musk’s support.
These days, Musk is busy fighting against censorship issues. He aimed to bring almost every type of true news to the public domain, even though his platform X faced high censorship pressure.
Read also: Fidelity Digital Assets says “Pension funds are just beginning to talk about investing in Bitcoin”
Dogecoin pumps 20%, reportedly Tesla planning to adopt Doge payment for new products
https://bitcoinik.com/dogecoin-pumps-20-reportedly-tesla-planning-to-adopt-doge-payment-for-new-products/feed/
https://bitcoinik.com/dogecoin-pumps-20-reportedly-tesla-planning-to-adopt-doge-payment-for-new-products/feed/
