Elon Musk Confirms Plan To Reopen Dogecoin Payment For Tesla Merchandise

Elon Musk confirmed on Saturday that he wants to bring back Dogecoin payments for Tesla merchandise. He reacted “Me” to a post by Sir Doge of the Coin

Elon Musk is planning to reintroduce Dogecoin payments for Tesla, beginning with merchandise. Musk's interest in reviving DOGE payments was sparked by a post suggesting the move by Sir Doge of the Coin. Musk's response was a simple "Me".

Initially, Tesla will only accept DOGE for merchandise purchases. However, the company may eventually expand cryptocurrency payments to include its vehicles. Musk has frequently expressed his support for this initiative, including during a recent event at Tesla's Giga Berlin facility in Germany.

Following Musk's victory in the Dogecoin class action lawsuit, DOGE adoption is expected to increase as Musk continues to promote the meme coin for broader acceptance, including payments.

In a recent development, US District Judge Alvin Hellerstein dismissed the Dogecoin manipulation case against Elon Musk and Tesla. The judge concluded that Musk's DOGE tweets are "aspirational and puffery" and that "no reasonable investor" would rely on them for investment decisions.

The lawsuit, filed by several Dogecoin investors in 2022, alleged that Musk and his electric vehicle company engaged in a pyramid scheme and manipulated DOGE prices. The class action sought $258 billion in damages.

DOGE Price to Rally?

Musk, a known supporter of the coin, has also hinted at plans to integrate DOGE into a payments service on the social media platform X.

As reported earlier by CoinGape, the electric car company updated its payment methods to include Dogecoin for its products. Notably, Tesla products can only be purchased using a Dogecoin wallet. The news caused DOGE prices to soar by over 20%.

According to DOGE price analysis, the price could increase by 50% following Elon Musk's Dogecoin lawsuit. Some speculate that the development could lead to a rally to $1.

DOGE prices rose 1% in the past 24 hours, currently trading at $0.101. The 24-hour low and high prices are $0.097 and $0.102, respectively. Additionally, trading volume increased by 21% in the last 24 hours, indicating heightened interest among traders.

The above is the detailed content of Elon Musk Confirms Plan To Reopen Dogecoin Payment For Tesla Merchandise. For more information, please follow other related articles on the PHP Chinese website!