Dogecoin Spiked 15% as Elon Musk Says SpaceX Will Soon Accept it for Merch Payments

SpaceX CEO Elon Musk said the firm will soon accept Dogecoin as a form of payment. Previously, on similar occasions, Musk’s comments had driven the popular meme coin to surge in value within a short period of time. This time, the cryptocurrency spiked nearly 15% right after the news broke, but it soon gave away most of its gains.

• After announcing the EV giant Tesla would accept Dogecoin as payment for some of its merchandise, the self-proclaimed Dogefather doubled down its faith in the meme coin, revealing on Twitter that SpaceX, another venture he led as CEO, will soon accept Dogecoin as a payment option. He tweeted:

“Tesla merch can be bought with Doge, soon SpaceX merch too.” 

• However, Musk did not specify when the payment option will be available to the public.
• When asked if SpaceX would allow customers to pay for Starlink’s internet subscriptions with Dogecoin, Musk replied, “Maybe one day.”
• Last May, SpaceX accepted Dogecoin as full payment for a lunar mission dubbed the “DOGE-1 Mission to the Moon.” Musk noted that “Dogecoin would become the first cryptocurrency in space.”
• At the time of writing, the largest meme coin by market cap is trading slightly below $0.08 as its earlier gain spurred by the news has mostly been wiped out.