Could Dogecoin (DOGE) be becoming Tesla’s official cryptocurrency? The company has added payment options on its official store, for certain products. This has caused the altcoin’s price to jump.
Tesla adds Dogecoin payments to its store
You still can’t buy an electric car with Dogecoin, but some products associated with Tesla are now listed in DOGE. This is the case, for example, of the “Cyberquad” for children, which is offered for 12020 DOGE ($2,340 at the current price) :
On the site’s information page, we learn that Tesla only accepts Dogecoin, and there is no mention of a possible addition of another cryptocurrency. As a reminder, the company had in the past added Bitcoin (BTC), before abruptly removing it, citing environmental reasons.
This addition is not a surprise: Elon Musk had announced in December that the site would start displaying some prices in DOGE soon. It’s unclear whether Tesla will eventually accept payments in DOGE for its electric cars.
Dogecoin’s price is jumping
Elon Musk has already shown his influence on the Dogecoin price, as he is widely considered to be behind the renewed interest in the cryptomurrency. And it seems that the Elon effect, or at least the Tesla effect, is still visible today.
Overnight, DOGE’s price jumped +33%, breaking the $0.20 mark again.
It is thus clearly detached from other crypto-currencies, which continue to evolve in a rather gloomy context: the Bitcoin (BTC) thus loses -1.8% over the last 24 hours. Dogecoin is at the doorstep of the top 10 most capitalized cryptocurrencies, with a market cap that exceeds $26 billion.
In any case, the addition of Dogecoin on Tesla seems to allow the cryptocurrency to consolidate its image. The altcoin has begun to break away from its meme status: it recently released its first-ever roadmap. Could it be that the crypto-currency mad dog is coming into line?
