Elon Musk, Dogecoin Godfather and CEO of Tesla, has purportedly included Dogecoin as a payment method for some Tesla products, as per a FAQs section on the official website of Tesla. Moreover, It follows a month after Elon Musk hinted at embracing Dogecoin as an official form of payment for its cars at some point in the future. Traders reacted promptly to the news, and DOGE price surged over 20% in the last 24 hours, with the price changing hands at $0.16. However, despite the buzz in the crypto community, Tesla hasn’t confirmed whether Dogecoin is an acceptable payment for Tesla cars.
Dogecoin Appears Among Payment Options on Tesla Website
Elon Musk’s electric car manufacturer Tesla has initiated accepting Dogecoin as a payment method at Tesla Shops. In addition, according to a Dogecoin support page on the Tesla website, customers need to look at the Dogecoin symbol next to the “order” page of Dogecoin-eligible products. As per Wayback Machine, the latest update on the page was done today, May 4.
Tesla products can be procured through a Dogecoin wallet only. “All eligible Tesla products will be clearly priced in Dogecoin. This price will include any applicable taxes,” as per a FAQ. However, there are some conditions when making Dogecoin payments. These include — not accepting payments from multiple wallets for a single order, an order once placed can’t be canceled, and returns are not applicable for items purchased with Dogecoin. “Tesla only accepts Dogecoin. Tesla cannot receive or detect any other digital assets. Ensure you are making your purchase with Dogecoin.”
In March, Elon Musk hyped up the memecoin to a crowd at the Tesla Gigafactory near Berlin, Germany. However, when asked about when the electric vehicle maker will start accepting Dogecoin as a payment for its cars, Musk said he thinks the company “should enable tha at some point.”
DOGE Price Pumps Over 20%
DOGE price surged more than 20% in the past 24 hours, with the price currently trading at $0.16. The 24-hour low and high are $0.137 and $0.162. Furthermore, the trading volume has soared over 90% in the last 24 hours, indicating massive interest among traders.
Meanwhile, the total Dogecoin futures open interest has increased by 26% over 24 hours and a more than 9% leap in open interest in the past 4 hours, as per CoinGlass data. Moreover, this indicates significant buying from futures traders.
DogeChain Closes
DogeChain, a popular platform for managing Dogecoin transactions , has announced that it will be shutting down as of June 1, 2024. The announcement, published on the DogeChain website, marked the end of an era in the community. In essence, it was not just a DOGE wallet, but an integral part of the Dogecoin ecosystem. The DogeChain project , introduced in 2022, was created as a layer-2 solution built on the Polygon Edge blockchain and compatible with the Ethereum Virtual Machine (EVM).
