- The price of Dogecoin, on the other hand, has been declining.
- Tesla started taking Dogecoin in January for select products.
Elon Musk, CEO of Tesla and SpaceX, responded to a tweet from developer Ryan Zohoury, who reported that a new Tesla supercharger station in Santa Monica, California, is virtually full 10 minutes after it opened tweeting about potential Dogecoin payment acceptance.
At the time of this writing, the Tesla CEO has not explicitly said what the meme cryptocurrency might be used to pay for. Dogecoin supporters believe that Tesla’s supercharger stations will take the cryptocurrency, while Tesla detractors believe Musk’s post merely refers to the forthcoming Hollywood area and drive-in cinema.
Dogecoin Godfather
However, Dogecoin’s fans are pleased with Musk’s goal to increase the currency’s popularity. The price of Dogecoin, on the other hand, has been declining. According to statistics from CoinMarketCap, the DOGE was trading at $0.1417 at the time of Musk’s post. Since then, it’s fallen marginally and now stands for $0.1363.
Tesla started taking Dogecoin in January for select products. Musk then offered to consume a Happy Meal on national television to persuade McDonald’s to embrace DOGE. However, McDonald’s responded, “only if Tesla accepts grimacecoin.”
Musk, a longstanding backer of Dogecoin, is frequently referred to as the Dogefather in the crypto world. He has already admitted that many individuals he spoke to at Tesla and SpaceX owned DOGE. According to him, while Bitcoin is better for long-term holdings, Dogecoin is better for transactions. One of Dogecoin’s primary developers, Ross Nicoll, has resigned from the project. The reason mentioned was that there’s no way that he wants to be involved with any possible conflicts of interest in the coin making process.
