Tesla’s turbocharging stations in Santa Monica, California, will soon take Dogecoin as a form of payment, according to CEO Elon Musk, causing Dogecoin’s value to rise somewhat. The Tesla CEO was vague about what the catchphrase cryptocurrency can be used for. Some speculate that Tesla’s Supercharger stations will take DOGE, while others see Musk’s post as referring specifically to the forthcoming Hollywood diner and drive-in theatre.
The proprietor of the Tesla Console app store, Ryan Zohoury, confirmed in a tweet that the supercharging facilities in Santa Monica were fully occupied shortly after Musk announced Dogecoin’s approval.
Tesla began testing Dogecoin in December 2021 by selling some of its merchandise in exchange for the cryptocurrency. Dogecoin was recently spotted in the source code of SpaceX, as reported by FX Empire, and it appears that SpaceX is also testing DOGE payments. Apart from that, Musk has lately mentioned that both Starlink and SpaceX may start accepting Dogecoin payments in the future.
Dogecoin’s value rose briefly following the announcement before reverting to pre-announcement values.
Similarly, Dogecoin’s enigmatic founder, Shibetoshi Nakamoto, has expressed his annoyance with how individuals have repeatedly requested him to raise the value of the dog-themed cryptocurrency to a dollar. Most Dogecoin fans, according to Nakamoto, pretend to mean something different when asking about the prospect of raising DOGE’s price in order to garner his attention.
Many Dogecoin fans have asked Nakamoto to raise the price of a unit of DOGE to $1 (approximately Rs. 75) by destroying its supplies and putting a limit on the amount quantity of the currency that may ever be produced, according to Nakamoto. Nakamoto indicated in a recent tweet depicting the types of questions people ask him that he cannot burn the Dogecoin supply because he does not possess the protocols to do so. Nakamoto further stated that reducing Dogecoin’s supply could jeopardise the currency’s security, which is a risk he is unwilling to take.