Dogecoin Jumps After Musk Tweeting Tesla Merchandise ‘Buyable’ With Token
The memes-based Dogecoin cryptocurrency surged on Friday after Tesla chief Elon Musk said the electric carmaker would accept it as payment for goods.
“Tesla merch purchasable with Dogecoin,” Musk tweeted.
His tweet in mid-December that such use of Dogecoin would be allowed as a test sent the cryptocurrency up over 20%. The price of Dogecoin in India was Rs. 15.02 at 4:30 p.m. IST on January 14.
Dogecoin, popular among retail investors, climbed 18% to exceed $ 0.2 (around Rs. 14) after Friday’s tweet.
Musk’s cryptocurrency tweets, including one where he called it “people’s crypto,” supported the coin itself and shot it by around 4,000% in 2021.
In other Tesla-related news, Musk tweeted on January 13 that Tesla “is still solving a lot of challenges with the government” in India. Musk said this in response to a question about when he would launch his electric cars in the country.
Tesla planned to start selling imported cars in India last year and lobbied the government to reduce import taxes on electric vehicles (EVs) before it entered the market. In October, he presented his demands to the office of Indian Prime Minister Narendra Modi.
Musk did not identify the “challenges” he was working on in his Twitter post.
© Thomson Reuters 2022
Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
Cryptocurrency is unregulated digital currency, not legal tender and subject to market risk. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by The Singapore Time. The Singapore Time will not be liable for any loss resulting from any investment based on any perceived recommendation, forecast or any other information contained in the article.
Check out the latest news from the Consumer Electronics Show on Gadgets 360, in our CES 2022 hub.
|CryptoCurrency||USD||Change 1h||Change 24h||Change 7d|
|Bitcoin||1.40 %||0.61 %||2.44 %|
|Ethereum||1.56 %||2.06 %||4.23 %|
|Tether||0.20 %||0.44 %||0.15 %|
|Binance Coin||1.36 %||1.74 %||0.06 %|
|Cardano||2.84 %||7.28 %||22.20 %|
|USD Coin||0.32 %||0.13 %||0.20 %|
|Solana||1.69 %||0.34 %||1.46 %|
|XRP||0.78 %||1.79 %||3.93 %|
|Terra||1.73 %||2.88 %||6.96 %|
|Polkadot||2.07 %||2.90 %||3.55 %|
|Dogecoin||0.83 %||1.23 %||8.02 %|
|Avalanche||1.40 %||1.59 %||5.46 %|
|Shiba Inu||1.64 %||3.62 %||0.14 %|
|Polygon||1.08 %||4.98 %||11.86 %|
|Binance USD||0.06 %||0.10 %||0.05 %|
|Crypto.com Coin||1.58 %||0.62 %||3.96 %|
|Wrapped Bitcoin||1.45 %||0.69 %||2.55 %|
|Near||0.48 %||0.27 %||3.12 %|
|TerraUSD||0.04 %||0.02 %||0.02 %|
|Cosmos||1.91 %||2.08 %||4.01 %|