Dogecoin Surges 11% as Payments Go Live on Tesla Store

Users can purchase belt buckles, chargers, and other merchandise as of Friday.

Portrait of cute red Shiba Inu dog looking at camera (Federico Moreno via Getty Images)

What to know

Dogecoin (DOGE) payments wentlive on the Tesla storein Asian hours on Friday, with prices seeing an 11% increase shortly afterward.

Thestoredisplays pricing information in both U.S. dollars and dogecoin. The Giga Texas Belt Buckle lists for 835 DOGE (≈$155.5); the Cyberquad sells for 12,020 DOGE (≈$2,296), while a Cyberwhistle goes for 300 DOGE (≈$57).
Dogecoin was trading at $0.19 at the time of writing and is the world’s 11th largest cryptocurrency with a market capitalization of $24 billion.
The move comes nearly a month after Tesla CEO Elon Musk said in December 2021 that the electric-car maker would accept dogecoin as payment for its merchandise. “Tesla will make some merch buyable with Doge & see how it goes,” hesaidat the time.
Earlier this year, Tesla started accepting bitcoin as payment for its electric cars. The pilot proved short-lived amid rising concerns about Bitcoin’s energy usage and was soon dropped.