Dogecoin price today: Crypto soars as Elon Musk says it can be used to buy Tesla merchandise
Dogecoin, the cryptocurrency with a Shiba Inu meme founded in 2013, surged on Friday after Elon Musk said on Twitter that it could be used to buy Tesla Inc. merchandise. The meme coin was up 15% over the past 24 hours as of 2:56 p.m. in Hong Kong, according to pricing from CoinGecko. It was a standout on a day when other cryptocurrencies from Bitcoin and Ether to Solana and Polkadot remained relatively flat.
Musk, a frequent booster of Dogecoin on social media, has hinted at the move for some time. In addition, numerous reports in recent days had indicated that source code on Tesla’s website included an option for Dogecoin payments.
Billy Markus, Dogecoin’s co-creator, tweeted earlier Friday with an image that appeared to show a Cyberwhistle available for a price of 300 Dogecoin.
(Bloomberg) Cryptocurrency enthusiasts who piled into meme coins such as Dogecoin and Shiba Inu amid the long-time industry rallying call of “to the moon” are finding this year’s journey back to earth pretty painful.
Dogecoin, Shiba Inu and other tokens associated more with online jokes rather than actual software products have been hit harder than sector originals Bitcoin or Ethereum during the recent retreat from the record price levels reached late last year. Doge is off nearly 80% from its all-time high of 74 cents in May, and Shiba has declined more than 65% since hitting its peak of fractions of a penny in late October, according to data compiled by Messari.
Trading volumes have fallen off, now measured in millions instead of billions. And the jokes that once swayed a legion of mostly retail day traders to buy up coins on a whim come with a hint of sadness.
The frenzy started with Doge. A digital token created in 2013 by a pair of software
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