According to an FAQ section of Tesla’s official website, Elon Musk, the CEO of Tesla and a fan of Dogecoin, has incorporated Dogecoin into the payment mechanism for certain Tesla products. One month after Elon Musk made hints that the company would eventually accept Dogecoin as payment for its vehicles.
Traders reacted instantly to the news, and the DOGE price jumped over 20% in the last 24 hours, changing hands at $0.16. Even with the fervour in the cryptocurrency world, Tesla has yet to state that Dogecoin is a valid form of payment for Tesla vehicles.
Dogecoin Is Listed on the Tesla Website as a Payment Option
Dogecoin is now a valid payment option at Tesla Shops, the electric vehicle manufacturer owned by Elon Musk. According to a support page for Dogecoin on the Tesla website, customers should look for the Dogecoin symbol next to the “order” page of products that qualify for Dogecoin. According to Wayback Machine, the page was last updated today, May 4.
Tesla items can be purchased exclusively with a Dogecoin wallet. “The price of every qualified Tesla product will be displayed in Dogecoin. This pricing will include any relevant taxes,” as per a FAQ.
However, there are some terms for making Dogecoin payments. These include the inability to accept payments from numerous wallets for a single order, cancel orders once placed, and accept refunds on Dogecoin-purchased things.
Only Dogecoin is accepted by Tesla. Other digital assets are not detectable or received by Tesla. Ensure you are making your transaction using Dogecoin.”
In March, Elon Musk pumped up the meme coin to a crowd at the Tesla Gigafactory near Berlin, Germany. Musk stated he believed the business “should enable that…at some point” in response to a question concerning when the manufacturer of electric vehicles would begin taking Dogecoin as payment for its cars.
Price Pumps DOGE Over 20% In the last 24 hours, the cost of DOGE has increased by more than 20%, and it is currently trading at $0.16. The 24-hour low and high are $0.137 and $0.161, respectively. Additionally, there is much interest among traders, as seen by the trading volume, which has increased by over 90% in the past day.
According to CoinGlass statistics, total Dogecoin futures open interest has spiked 26% during the last 24 hours and increased more than 9% in the last 4 hours. This suggests that futures traders are making large purchases.
