The meme coin Doge coin just got a major booster as Tesla has added it as a payment method to buy tesla Merch. This means if you visit the Tesla Merch website to make a purchase, you can now pay using your Dogecoin.
Elon Musk tweeted about this early this morning saying “Tesla merch buyable with Dogecoin“. A look at the Tesla Merch website also confirms this to be true. This new update can mean allot of things for the meme coin.
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For one thing, the price of Dogecoin is expected to go up over the weekend following this development. Anytime a meme coin or crypto is used for something new, price of such meme coin or crypto tends to go up.
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But, this does not mean it will remain that way. This is because after the hype has died down and everything becomes normal, the price will fall back. So, should you buy more dogecoin now that tesla is accepting is as a payment option?
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Well, that decision is entirely up to you. The cryptocurrency space is a very volatile space and you should do your own research and read about the utility of the coin before you buy. This does not mean buying more dogecoin is bad investment, it just mean be sure of what you’re getting yourself into.
But, now that Tesla has opened the way to publicly accept dogecoin as a means of payment, which other company do you think will jump in on it? do you see Amazon, eBay and other online store accepting crypto as a means of payment wen checking out?
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In the world of Tech and FinTech, any integration is possible. Even if other online retailers don’t follow the footsteps of Tesla now, it’s just a matter of time before another company joins in on the action.