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Dogecoin (DOGE) Rises as Tesla Embraces It for Payments

Tesla, led by Elon Musk, has integrated Dogecoin (DOGE) as a payment method, leading to a 35% surge in DOGE value.

Users can now use DOGE to buy select Tesla merchandise online, requiring a Dogecoin wallet for transactions.

This move has sparked a positive market response, with DOGE surging by 21%. Analysts predict a bullish trend for DOGE, backed by notable increases in various ecosystem indicators.

Tesla’s embrace of DOGE follows Musk’s previous hints at using it for payments, including a trial in January 2022 and mentions during a March 2024 factory visit.

Dogecoin stands out with its current price of $0.1598 and a weekly gain of 12.45%, maintaining its position as the eighth-largest cryptocurrency with a market cap of $23,035,810,127.

Expectations within the community are high, with hopes pinned on DOGE reaching at least $0.5 in the short term. Long-term aspirations revolve around reclaiming its all-time high (ATH) of $0.7376.

Image Credit: Shutterstock

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Dogecoin (DOGE) Rises as Tesla Embraces It for Payments

was first posted on May 6, 2024 at 4:48 pm.
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