Elon Musk and Dogecoin go way back. Tesla’s founder was among the pioneers who accepted and promoted the original meme coin.
Now that DOGE has established its market presence, people are wondering whether Tesla will accept the meme token. The question was asked of Musk in a recent interview, where the Tesla founder stated, “At some point, Tesla should enable that.”
The question was asked at the recent Tesla Berlin Gigafactory visit. While Musk’s reply is not a direct yes, it is a concrete indicator that the transport giant will eventually accept Dogecoin.
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DOGE entered the market way back in 2013 as a dummy token. The coin imitated the famous Shiba meme, where users share their thoughts in comic sans font. In little time, Dogecoin gained worldwide attention.
The meme token attracted absolute recognition in 2019 when Musk declared DOGE his favorite crypto on X (then Twitter). As expected, the tweet was enough to skyrocket Dogecoin’s market price.
The coin peaked in May 2021 after hitting 73 cents per DOGE. Currently, the meme token is trading around 20 cents per coin.
Coming back to the Berlin speech, Musk reaffirmed his support for Dogecoin, cheering “DOGE to the moon.” While the cheer did not help Dogecoin’s price target, it has reignited discourse among crypto enthusiasts.
Tesla has previously accepted crypto (Bitcoin) as a payment method. While the company discontinued its acceptance after months, the development was enough to boost BTC’s price significantly. Back then, Musk shared concerns regarding BTC’s carbon emissions being an issue.
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And while Dogecoin uses a consensus model like Bitcoin, it does not create emissions on the same scale. Thus, DOGE can be a safer alternative for Tesla than BTC.
