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.