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HomeCRYPTOCURRENCY NEWSDogecoin Jumps After Musk Tweets Tesla Merchandise 'Buyable' With Token

Dogecoin Jumps After Musk Tweets Tesla Merchandise ‘Buyable’ With Token

Meme-based cryptocurrency Dogecoin jumped on Friday after Tesla chief Elon Musk stated the electrical carmaker will settle for it as cost for merchandise.

Tesla merch buyable with Dogecoin,” Musk tweeted.

His mid-December tweet saying such use of Dogecoin will likely be allowed on a check foundation despatched the cryptocurrency up greater than 20 p.c. Dogecoin value in India stood at Rs. 15.02 as of 4:30pm IST on January 14.

Dogecoin, well-liked amongst retail traders, raced up 18 p.c to above $0.2 (roughly Rs. 14) after Friday’s tweet.

Musk’s tweets on the cryptocurrency, together with the one the place he known as it the “people’s crypto”, buoyed the meme coin and brought on it to soar roughly 4,000 p.c in 2021.

In different Tesla-related information, Musk tweeted on January 13 that Tesla is “still working through a lot of challenges with the government” in India. Musk stated this in response to a query on when it will launch its electrical automobiles within the nation.

Tesla had plans to start promoting imported automobiles in India final yr and has been lobbying the federal government to slash import taxes on electrical automobiles (EVs) earlier than it enters the market. In October, it took its calls for to Indian Prime Minister Narendra Modi’s workplace.

Musk did not determine the “challenges” being labored on in his Twitter put up.

© Thomson Reuters 2022


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