Friday, 12 April 2024

Crypto News

Dogecoin payment for Tesla hint by Elon Musk causes a stir among meme coin prices

Dogecoin payment for Tesla hint by Elon Musk causes a stir among meme coin prices

  • Elon Musk is optimistic about Dogecoin payments for purchasing Tesla cars.
  • NuggetRush price rises to $0.019 per token in the launchpad presale round.
  • Analysts believe meme coin prices could soar this year.

Elon Musk, the CEO of Tesla Inc., has been a big fan of Dogecoin (DOGE) for a while. He started talking about it back in 2019, saying he thought it was a pretty cool cryptocurrency. 

Back then, not many people knew about Dogecoin. It took a bit of time and some more posts from Musk, along with a big increase in cryptocurrency prices, for Dogecoin to become popular. Musk has recently mentioned that you can buy Tesla merchandise with Dogecoin. This makes it seem like Tesla might start letting people use Dogecoin to buy cars too, since it already has a system for dealing with Dogecoin transactions.

Then we also have a few Dogecoin variants in the meme coin market which are showing great progress this year. One notable name that stands out is NuggetRush (NUGX), which some analysts consider a heavyweight against other memecoins. While all meme coin prices have increased this year, it is worth noting that investing in real-world utility coins gives you an added advantage.

Dogecoin seems to be the preferred cryptocurrency for Elon Musk

This crypto coin went viral, making some people rich and getting a lot of attention in the news. In 2021, Dogecoin reached its highest price ever, hitting $0.7376. Even though it dropped after that, it’s starting to become a top altcoin again in 2024. There’s more to know about how Tesla deals with cryptocurrency. In 2021, Musk and Tesla started letting people pay for Tesla cars with Bitcoin, but they stopped doing it a few months later. Musk said it was because of environmental issues.

He said, “Tesla isn’t letting people buy cars with Bitcoin anymore. We’re worried about how much fossil fuels are being used to mine Bitcoin and do transactions, especially coal, which is the dirtiest kind of fuel.” This is important because Dogecoin is based on Bitcoin and uses a lot of the same technology. That means Dogecoin also uses a lot of energy, even though it’s not as much as Bitcoin. This might be something Musk thinks about when he’s deciding whether Tesla should start taking Dogecoin payments again.

Even though Tesla stopped taking Bitcoin payments before, Musk’s recent comments about Dogecoin…

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