Tesla Now Accepts Dogecoin: DOGE Price Surges 20%
Release: 2024/05/05 00:57 Reading: 771
Elon Musk Adds Dogecoin as Payment Option for Tesla Products
Elon Musk has announced an exciting update for Tesla shoppers: Dogecoin is now accepted as a payment option for select products. This move follows Musk's previous hints about considering Dogecoin as an official payment method for Tesla cars.
Dogecoin Surges Following Announcement
The news of Tesla's Dogecoin acceptance sent the cryptocurrency's price soaring by over 20% in just 24 hours, reaching $0.16. However, it's crucial to note that Tesla has not yet confirmed whether Dogecoin can be used to purchase their vehicles.
Tesla Shops Accept Dogecoin
Tesla's electric car company has officially announced that Dogecoin will now be accepted as a payment method at Tesla Shops. According to a Dogecoin support page on the Tesla website, customers can use Dogecoin to purchase eligible Tesla products by identifying the Dogecoin symbol on the "order" page of Dogecoin-eligible items. This update was implemented on May 4, as per the Wayback Machine.
Terms and Conditions of Dogecoin Payments
Customers wishing to make purchases using Dogecoin must do so via a Dogecoin wallet. All eligible Tesla products will display prices in Dogecoin, including applicable taxes, as stated in the frequently asked questions (FAQ) section.
However, certain terms and conditions apply when making payments with Dogecoin. These include:
- Restrictions on using payments from multiple wallets for a single order
- No cancellations after an order is placed
- No returns for items purchased with Dogecoin
Tesla Accepts Only Dogecoin
It's important to note that Tesla exclusively accepts Dogecoin as a form of payment and cannot process any other digital assets. This decision aligns with Musk's previous remarks about Dogecoin at an event at the Tesla Gigafactory in Germany in March. When asked about the possibility of Tesla accepting Dogecoin for car purchases, Musk expressed his support, suggesting that it could happen "at some point."
DOGE Price Surges Amidst Increased Trading Activity
The price of Dogecoin has experienced a significant surge of over 20% in the past 24 hours, with the current price reaching $0.16. The cryptocurrency's price has fluctuated between $0.137 and $0.161 within the same timeframe. The surge in trading volume, which has increased by over 90% in the last 24 hours, indicates substantial interest among traders in DOGE.
Bullish Sentiment for DOGE
CoinGlass data reveals a remarkable increase in total Dogecoin futures open interest, rising by 26% over the past 24 hours. Additionally, there has been a notable uptick of more than 9% in open interest within the last 4 hours alone. These statistics suggest a significant influx of buying activity from futures traders, further contributing to the bullish sentiment surrounding DOGE.
Disclaimer:
Please note that this article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other type of advice.
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