This is not the first time that Elon Musk has hit the headlines for his interest in DOGE. Earlier in 2019, for the first time, Elon Musk had mentioned in a tweet that Dogecoin [DOGE] might be his favorite cryptocurrency, which further spiked the value of the coin.
In the year 2020, Elon seemed to resume tweeting about his favorite coin again. His trifled tweets about DOGE contributed to the major fluctuations in the price of the asset.
Elon Musk says Dogecoin in exchange for merchandise
Time and again, the Tesla founder has fueled the woozy flutters of the altcoin’s value. Elon Musk has recently tweeted,
“Tesla will make some merch buyable with Doge & see how it goes”
The prolific Twitter user and cryptocurrency supporter gave his answer to the Twitter poll held in May 2021. He has stated that Tesla is willing to accept Dogecoin in exchange for some merchandise; what kind of merchandise hasn’t been specified yet. Contemporary to this tweet, the price of the asset seems to have hiked up by 20.77% in the last 24 hours, at the time of writing.
In a recent interview with the Times magazine, he said that Dogecoin is better for transactions. In many such ways, Elon Musk has often countenanced the asset.
Dogecoin is among the top 10 cryptocurrencies and seems to be growing faster by every tweet of Musk. His tweets have helped the meme-coin to escalate 5,859% over the last year, according to data from Coinbase.
Dogecoin was created by two software engineers who wanted to create a payment system to make fun of the deliberations in cryptocurrencies at the time. This altcoin was considered the first ‘meme coin’ given its satirical nature. Despite this, many investors consider it as a serious mode of benefit, and Elon Musk happens to be a staunch supporter and account holder of this cryptocurrency.
While Dogecoin enjoys the soar in value, Shiba Inu, commonly known as the ‘Dogecoin killer’ seems to have taken a plunge of 2.18% over the last 24 hours, at the time of writing.