Dogecoin Jumps After Musk Tweeting Tesla Merchandise ‘Buyable’ With Token

   2022-01-14 10:01

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


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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.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin30,092 0.70 % 3.40 % 4.08 %
Ethereum2,005.4 0.83 % 1.97 % 3.63 %
Tether0.9995 0.08 % 0.10 % 0.36 %
USD Coin0.9999 0.10 % 0.15 % 0.06 %
BNB305.24 0.48 % 3.99 % 13.47 %
XRP0.4188 0.79 % 1.90 % 0.50 %
Binance USD1.002 0.13 % 0.13 % 0.08 %
Cardano0.5337 0.82 % 1.84 % 3.35 %
Solana52.85 0.53 % 4.04 % 5.03 %
Dogecoin0.08655 0.58 % 1.07 % 2.72 %
Polkadot10.11 0.56 % 1.30 % 13.61 %
Wrapped Bitcoin30,089 0.65 % 3.58 % 4.46 %
Lido Staked Ether1,974.0 0.94 % 1.90 % 3.97 %
Avalanche30.33 1.27 % 0.20 % 1.87 %
TRON0.07384 0.38 % 3.98 % 1.59 %
Shiba Inu0.00001186 0.95 % 0.30 % 1.03 %
--- --- --- ---
Litecoin70.99 1.37 % 5.41 % 6.84 %
Cronos0.1950 0.58 % 3.72 % 0.35 %
LEO Token4.970 0.04 % 0.07 % 5.01 %