Tesla Now Accepts Dogecoin as Payment
Tesla has officially added Dogecoin (DOGE) as a means of payment on its website, starting from May 4. Users can now use Dogecoin to purchase merchandise from Tesla’s online store, although the option is currently limited to merchandise only.
History of Dogecoin Integration
The integration of Dogecoin into Tesla’s payment system is not entirely new for the company. Tesla started experimenting with accepting DOGE in January 2022, and it seems that the testing was successful. Now Dogecoin has become a permanent option for buyers interested in the company’s products.
Market Reaction to the News
The Dogecoin market reacted somewhat subdued to this news. Over the past day, the price of DOGE has dropped by less than 1%, despite a recent significant increase. Since May 1, the cryptocurrency has risen by 42%, which is attributed to the positive sentiment in the cryptocurrency market and the activity of large investors. However, despite this growth, it is too early to talk about the end of the bearish trend that started at the end of March.
On May 5, the price of Dogecoin again fell below the key trend line, indicating the possibility of further decline. If buyers do not actively support the price, DOGE may once again decrease and set new lows, as seen on May 1.
