Elon Musk to ‘Soon’ Open DOGE Payment Option for SpaceX Merchandise

Elon Musk, CEO of Tesla and SpaceX, has set a new standard that underpins his support for meme-based Dogecoin. Musk said SpaceX will soon begin accepting payments from DOGE to sell its merchandise. The development comes just four months after Musk’s electric vehicle (EV) company, Tesla, began accepting payments in meme cryptocurrency last December. The tech mogul has been a staunch supporter of Dogecoin, often saying that DOGE will provide a better alternative to daily payments rather than other altcoins like BTC or ETH.

Musk, 50, posted a tweet to his 95.7 million followers announcing SpaceX’s plans to sell goods from his space exploration company, in exchange for Dogecoins.

Despite Musk’s continued support, DOGE lost more than 55 percent in value between May 8 and May 13, data from TradingView shows.

Back in December, when Musk revealed that some specific Tesla merchandise was available for sale at DOGE, the value of memecoin rose by 25 percent.

But this time, Musk’s new announcement failed to add value to Dogecoin prices.

At the time of writing, Dogecoin is trading at $0.00012 (~Rs 0.000950) after opening with a slight gain of about three percent on Monday, May 30.

In response to a comment on his tweet, Musk also hinted that DOGE payments could become an alternative to paying for a subscription to Starlink, which claims to provide “high-speed broadband internet to sites where access was unreliable or completely unavailable.”

After acquiring a 9.2 percent stake in Twitter in April, the billionaire revealed his plans to allow DOGE to become a payment option for Twitter Blue services in the times to come.

Musk has described Dogecoin as “the cryptocurrency for the people” in the past, citing a survey claiming nearly 33 percent of crypto-holders hold US DOGE assets.

“Although it was created as a ridiculous joke, Dogecoin is best suited for transactions. Musk said in December 2021 that the total transaction flow that you do with Dogecoin, like daily transactions, has a much higher potential than Bitcoin.”

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