Dogecoin has jumped 33% after Tesla’s CEO, Elon Musk, announced that the Automaker would accept payment in Dogecoin for some of its products.
The Tesla boss says that the payment would only be accepted on a test basis.
DOGE price surged to a high of $0.2 following the report before retracing to $0.18. The token has wiped off its losses and is now up about 7% in the past week.
Tesla sells merchandise like belt buckles, tiny models of its cars, apparel and quad bikes in its stores.
The news is a change of stance from previous announcements that the EV maker had stopped accepting BTC for car payments.
The centibillionaire has remained an ardent supporter of the meme token despite its creators abandoning it in 2015. Musk had also asked followers in May if they wanted the firm to accept DOGE.
Tesla will make some merch buyable with Doge & see how it goes— Elon Musk (@elonmusk) December 14, 2021