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Dogecoin jumps hours after Elon Musk suggests Tesla will accept DOGE payments in the future

Popular meme asset Dogecoin (DOGE) is surging after Tesla CEO Elon Musk suggested that the electric car company could accept DOGE payments in the future.

Speaking at Giga Berlin, a Tesla factory in Germany, the billionaire and longtime Dogecoin advocate was asked when Tesla would accept the dog-themed digital asset as payment for its vehicles.

The business tycoon responded that it could be a possibility in the future, noting that consumers can already use DOGE to purchase Tesla products.

“When will you be able to buy a Tesla with Dogecoin? At some point, I think we should allow that. “You can buy Tesla products with DOGE, which is great, so Dogecoin to the moon.”

Musk goes on to explain that he became a fan of DOGE after realizing that regular people were excited about it.

“Actually, a lot of people may not know that the reason I ended up supporting Dogecoin was because I was walking through the Tesla factory and some people were just working on the line, not rich people or anything, and They said: ‘Can you support DOGE?

And I was also at SpaceX, walking around the factory and some normal guys said, ‘Hey, can you support DOGE?’ And I said, ‘Hmm, you know what?’ DOGE is the people’s crypto, so I’m going to support it because a lot of rich people supported Bitcoin, but I thought, ‘Hey, if the people in line want me to support DOGE, I’ll support DOGE.’ DOGE is for you.

In the hours following Musk’s comments, DOGE jumped from a 24-hour low of $0.166 to a 24-hour high of $0.189, a jump of nearly 14%. Dogecoin has since stabilized and is trading at $0.173 at the time of writing, a gain of 3.68% over the past 24 hours.

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