Elon Musk says Tesla to allow Dogecoin payments; What’s next for DOGE?

Tesla (NASDAQ: TSLA) CEO Elon Musk has reiterated his support for meme cryptocurrency Dogecoin (DOGE), stating that the electric vehicle (EV) manufacturer plans to enable DOGE payments for vehicles.

Musk made the revelations in response to a member of the audience during an event at the Tesla Berlin manufacturing plant. He noted that his support for DOGE is rooted in the cryptocurrency’s grassroots backing, citing it as a driving factor behind the decision.

He emphasized the community-driven nature of Dogecoin, labeling it as the “people’s crypto,” and stressed the importance of catering to the desires of everyday individuals. However, he did not offer the timeline for when the decision would be implemented.

DOGE seven-day price chart. Source: Finbold

Overall, Tesla accepting Dogecoin for payments will boost the meme coin significantly as it seeks to solidify its position among the top ten digital currencies.

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