DOGE for moon? Elon Musk confirms that Tesla will allow payments with Dogecoin

Dogecoin (DOGE), the main cryptocurrency that leads in market capitalization among memecoins, has been standing out in the face of its growing rise, recording impressive increases in recent days.

Tesla CEO and DOGE supporter Elon Musk recently confirmed that the electric vehicle manufacturer has plans to allow payments to be made using the Dogecoin cryptocurrency for vehicles. DOGE for moon?

When answering a question from an audience member during an event at the Tesla factory held in Berlin, Musk revealed the plans highlighting his support for DOGE, highlighting popular support for this meme cryptocurrency as a determining reason for the decision.

Musk emphasized in his statement the community nature of the Dogecoin cryptocurrency, calling it “the people’s cryptocurrency.” The billionaire highlighted the importance of being able to meet the desires of ordinary people. Amid the revelation, Musk did not provide information on the deadline for implementing the feature.

JUST IN: Elon Musk says Tesla will enable $DOGE payments “at some point, Dogecoin to the moon.”

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— Watcher.Guru (@WatcherGuru) March 14, 2024

At the time of publication, the price of Dogecoin was quoted at US$0.178 with an increase of 7.0% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$4,865,132,689. Memecoin has seen a growth in its price of 17.7% in the last seven days.

Will Dogecoin Price Skyrocket to $1 in April?

Renowned cryptocurrency analyst Ali Martinez shared a very bullish analysis on March 8 for Dogecoin, predicting that the memecoin’s price could explode soon. Analyzing a DOGE growth graph, the analyst highlighted that the biggest memecoin on the market could be facing a huge increase in its price in the near future.

“This may sound crazy, but if history is any guide, Dogecoin $DOGE could reach $1 by mid-April!” he noted.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.