The news that Tesla accepted Dogecoin to pay for some of its merchandise once again led to a rise in DOGE, once again proving the sentimental characteristics of Meme coin.
Tesla founder Elon Musk said on Twitter yesterday that the electric car maker will accept Dogecoin (DOGE) as a payment method for some goods on a test basis. As soon as the tweet came out, DOGE rose 46.6%, becoming a "little green" in the "red bush" of the crypto asset market. The "godfather" who stirred up the Dogecoin market is back.
Musk is called the "Godfather of Dogecoin", and this year alone, the founder of Tesla has pulled the price of DogeCoin(DogeCoin), which was created 7 years ago by jokes, from a few cents to more than 140 times, and thus formed a Meme (meme) coin plate in the coin market.
This time, tesla accepted Dogecoin to pay for some of its goods the news once again led to the rise of DOGE, once again proved the sentiment of Meme coin characteristics, how long can the news pull increase last?
Tesla will accept Dogecoin to pay for some of the goods
"Tesla will offer some items available for purchase through Doge and see how it goes." On December 14, Tesla founder Elon Musk tweeted about doge's use case dynamics.
As soon as the tweet came out, DOGE rose against the background of the overall decline in the crypto asset market, rushing from near $0.15 to $0.22 at one point, up 46.6% in 2 hours, and then falling to near $0.19 in the next 4 hours.
Musk said that some Tesla merchandise will support Dogecoin payments
Musk didn't specify what items could be purchased with Dogecoin. Looking at the Tesla brand, its peripherals range in price from $50 to $1,900, including clothing, belts, and mini models of Tesla vehicles. Not long ago, on December 10, after the release of the new cybertruck, the peripheral Cyberwhistle (Tesla whistle) was launched based on this model, which cost $50.
Whether these Teslas support Dogecoin payments is unknown, but Musk's ability to shout orders with more than 66 million Twitter followers is well known.
According to Coingecko data, Musk's tweets about Dogecoin, including his tweet calling Dogecoin "the people's cryptocurrency," helped the crypto asset soar 14,406% over the past year. You know, at the beginning of the year, Dogecoin was only $0.0047, and in May this year, that is, the month when Musk shouted the most intensive amount of crypto assets, Dogecoin reached an all-time high of $0.6818, but in the following 2 months, it fell to a low of $0.1728, down 74.6% from its all-time high.
Dogecoin was originally started in 2013 by programmers Billy Marcus and Jackson Palmer for a joke, in order to satirize the crazy rise of Bitcoin, they created an unlimited supply of Dogecoin, becoming the earliest Meme coin because it is cheap, easy to mine on the computer, mined and held by many crypto asset enthusiasts, originally used as a tip, with a strong grassroots attribute.
It can be said that until this year, Dogecoin was successfully out of the circle due to Musk's personal preferences. Not only that, his Shiba Inu pet and pet names have become the reason for some Meme coins to appear in the crypto market, such as Shiba Inu and Floki Inu, the cottage version of this dog dog coin has attracted a large number of retail investors due to its huge circulation and low price, and the speculation is strong, and the high market volatility of these Meme coins is also constantly puncturing the bubble.
The Meme coin market is still dominated by sentiment
Tesla's acceptance of Dogecoin payments is still stuck in Musk's tweet stage. You know, the founder once said that "Tesla accepts bitcoin payments" less than 2 months after the water, he believes that "bitcoin is not a good alternative to trading currencies".
In May, Musk took a poll on Twitter asking if he wanted Tesla to accept Dogecoin. Later, in a TV show, Dogecoin was a kind of "market noise".
The founder of the world's largest electric car maker, repeated sentiment about crypto assets has even begun to affect the market. After Musk later said Tesla would not accept bitcoin payments, bitcoin began to dive from its first all-time high of the year. Since then, Musk has also been blacklisted by some crypto enthusiasts.
The news that Tesla accepted Dogecoin to pay for some of its merchandise once again led to the rise of Dogecoin, once again proving the sentimental characteristics of some crypto assets, especially Meme coins.
Some cryptocurrency coiners have said that Dogecoin is a phenomenon similar to "meme stocks" such as GameStop and AMC and should not be taken seriously. Brad Garlinghouse, CEO of cryptocurrency company Ripple, has bluntly stated that he does not believe Dogecoin is good for the crypto asset market.
DOGE's market volatility this year
(In short, in the author's view, Dogecoin and other currencies are speculative assets, for such assets, emotions are the most important price drivers, or need to be cautious, there is a need to know more about the metaverse, blockchain, chain game information welcome private message authors to join the community, or pay attention to my public account "RMG metaverse")
【Disclaimer】Blockchain belongs to the emerging sector, the risk is extremely high, before fully understood, do not blindly invest in Z, all the descriptions and expressions in this article do not constitute any investment Z suggestions.