Dogecoin (DOGE) surges shortly after Elon Musk says SpaceX will accept the memecoin for merch payments
Billionaire CEO of SpaceX, Elon Musk, is once again publicizing his support for leading memecoin Dogecoin (DOGE).
TIME Magazine’s 2021 Person of the Year says its space transportation and aerospace company, SpaceX, will soon accept DOGE as payment for select merchandise.
“You can buy Tesla merch at Doge, soon also SpaceX merch.”
Tesla, Musk’s electric car company, began allowing customers to purchase goods with the popular memecoin in January.
Shortly after Musk’s SpaceX announcement, Dogecoin shot up from $0.078 to a high of $0.0841 in a matter of hours, up nearly 8%. The 10th-ranked crypto asset by market cap has since declined to $0.081 but is still up more than 6% in the past 24 hours.
However, Dogecoin remained down more than 41% over the past 30 days.
Musk, a crypto owner himself, has previously said that he owns Bitcoin (BTC), Ethereum (ETH) and DOGE.
He says he is a supporter of Dogecoin because he believes it is “the people’s crypto.”
“Lots of people I’ve spoken to on the production lines at Tesla or in rocket building at SpaceX, their own DOGE. They are not financial experts or Silicon Valley technologists.
That’s why I decided to support Doge – it felt like the people’s crypto.”
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