Elon Musk continues to have a significant impact on the popular memecoin Dogecoin.
El Dogecoin price, the most popular crypto meme on the market, rose more than 15% after statements made by the billionaire owner of Tesla, who hinted that his electric car company can accept DOGE as a means of payment in the future.
Although Elon Musk did not specify when people would be able to buy their Teslas with dogecoins, the news impacted the price of the cryptocurrency, which traded at around $0,191 on March 13.
As seen on CoinMarketCap's Dogecoin price chart, the memecoin surged 15,7% on March 13 following Musk's visit to Tesla's German plant, Giga Berlin.
Source: CoinMarketCap
Musk took to a podium at the car factory and, responding to a question about the possibility of purchasing from Tesla using dogecoin, manifested that “at some point” The company should allow users to purchase its electric cars with the meme cryptocurrency.
While Tesla accepts dogecoins for the purchase of its merchandise, the company has remained cautious about cryptocurrency payments. In 2021, it removed Bitcoin from its payment methods, citing concerns about its energy consumption.
Dogecoin, the 9th cryptocurrency in the market by capitalization
Dogecoin's price surge has placed it as the ninth most important cryptocurrency in the crypto market, in terms of market capitalization, and the eighth most used, in terms of daily trading volume.
Although Dogecoin's origins are related to humor and parody, the memecoin has recently become an investment alternative for many investors, to the point that asset manager Franklin Templeton has recognized that this currency can provide quick profits to its holders. Franklin Templeton, one of the most recognized investment companies in the world, pointed out that Dogecoin has no inherent value or utility, but may still be an interesting option for some.
In recent years, Dogecoin has received a lot of attention from the crypto community, especially driven by Musk, who has called himself the “Dogefather” and has made many mentions about the cryptocurrency on his social media.
