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“Dogecoin to the Moon” – Elon Musk has done it again

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It’s no longer a secret that Elon Musk has a soft spot for Meme coins. Already in 2021, his tweets pushed Dogecoin (DOGE) from one record high to another. Even today, DOGE is up more than 8%. The reason again is this billionaire, who indicated in the Gigafactory in Berlin that he could imagine Dogecoin being used soon for payments for Teslas. So far, only merchandise items can be purchased with the Meme coin. “At some point, we should also unlock DOGE for Teslas,” he answered to a question from the audience about when it would be possible to pay for a Tesla with Dogecoin.

“DOGE to the Moon”

That Musk has a soft spot for Meme coins is already known by most. Especially Dogecoin (DOGE) has caught his attention. Earlier, he was able to shoot its price up several times just with a tweet for the DOGE community. Even when he took over X (formerly Twitter), the coin’s price exploded with the expectation that DOGE could be integrated as a payment method. Now, the price has risen again after he stated in response to the question of when it would be possible to pay for a Tesla with Dogecoin, that “it should be unlocked at some point.”

“Dogecoin to the Moon” – Elon Musk has done it again

He states the reason for his fondness for DOGE as feeling that Bitcoin has become the cryptocurrency of the rich, and when his employees asked him what he thought about Dogecoin, it gave him the feeling that DOGE is the coin for “ordinary people.” With a short “DOGE to the Moon,” he emphasizes it further, meaning the 8% increase might not be the end.

The idea that DOGE could be integrated on X as a payment method is still not off the table. The platform has already received important licenses in the USA to operate as a payment service, and Musk’s plan to transform X into an all-in-one platform continues. Investors, therefore, still have reason to hope that DOGE could reach a new all-time high this year.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.