Dogecoin jumps after Musk tweets Tesla merchandise ‘buyable’ with the token

Meme cryptocurrency dogecoin jumped after Tesla Inc chief Elon Musk said the electric carmaker will accept it as payment for merchandise.

Musk’s mid-December tweet saying such use of dogecoin will be allowed on a test basis sent the cryptocurrency up more than 20%.

Dogecoin raced up 18% to above $0.2 after Friday’s tweet.

Musk’s tweets on the cryptocurrency, including the one where he called it the “people’s crypto”, buoyed the meme coin and caused it to soar roughly 4,000% in 2021.