Dogecoin (DOGE) price surged more than 20% on Tuesday morning immediately after Tesla CEO Elon Musk tweeted that Tesla would begin accepting it for some purchases.
The move came after Musk announced that Tesla would soon begin accepting DOGE for merchandise.
“Tesla will make some merch buyable with Doge & see how it goes,” he tweeted.
Elon Musk, the richest man in the world and CEO of electric car maker Tesla and rocket company SpaceX, has been a vocal supporter of Dogecoin, a “meme” cryptocurrency featuring a picture of a Shiba Inu dog. The tweets from the world’s richest person have contributed to its rising popularity.
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