Dogecoin Surges as Elon Musk Teases Tesla Merchandise Plan

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Dogecoin ( $0.151 ) rose 33% after Tesla CEO Elon Musk said the electric carmaker would accept dogecoins as payment for its merchandise.

“Tesla will make some merch buyable with Doge & see how it goes,” Musk tweeted.
Dogecoin ( $0.151 ) prices rose to as high as $0.20 following Musk’s tweet. They fell to $0.18 after the initial spike.

Tesla will make some merch buyable with Doge & see how it goes

— Elon Musk (@elonmusk) December 14, 2021

Musk, the founder of Tesla and space exploration firm SpaceX, has previously lent support to Dogecoin ( $0.151 ) development and adoption even as the memecoin’s creators abandoned the project back in 2015.

UPDATE (Dec. 13, 11:00 UTC): Adds tweet.