Elon Musk Says “Dogecoin to the Moon” as Price Eyes $0.2

Tesla and SpaceX CEO Elon Musk has reiterated his support for Dogecoin, calling for the cryptocurrency’s price to “moon.”

One of Dogecoin’s most influential figures, Tesla and SpaceX boss Elon Musk, has confirmed plans to integrate Dogecoin payments at the electric vehicle manufacturing company. Musk also used the popular “Dogecoin to the Moon” motto, which suggests that prices skyrocket much higher.

The Tesla CEO’s latest comments came during a recent visit to the company’s Giga factory in Berlin. While Musk’s visit was to celebrate the resumption of operations in the facility after an arson attack, the Tesla CEO apparently found some time to send a word out to his Dogecoin supporters at the event.

In a video posted by widely-followed Dogecoin supporter DogeOfficialCeo, a member of the audience asked the Tesla CEO about the possibility of customers being able to buy cars with Dogecoin in the future. Musk responded in the affirmative, saying that his company would enable that at some point.

Elon Musk at Giga Berlin today.

“When will I be able to buy a Tesla with dogecoin?”
“At some point I think we should enable that.” ???????? pic.twitter.com/Suk7bifuHC

— Sir Doge of the Coin ⚔️ (@dogeofficialceo) March 14, 2024

Musks Also Explains the Decision to Back Dogecoin Over Bitcoin

The Tesla CEO also explained why he has turned out to be more supportive of Dogecoin than Bitcoin over the years. According to Musk, some people working at the Tesla factory and SpaceX had asked him to support Dogecoin on separate occasions.

The multiple requests convinced Elon Musk that Dogecoin was the people’s crypto. In his words, “lots of rich people [already] support Bitcoin,” and since the people wanted him to support Dogecoin, he followed through.

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Since initially declaring his support for Dogecoin, the Tesla CEO has sold a collectible only purchasable with DOGE and also pushed for the cryptocurrency’s addition to Twitter’s product. He has also praised Dogecoin’s higher transaction capacity when compared to Bitcoin.

With Musk’s support, Dogecoin has emerged as the leading meme-inspired cryptocurrency and a coin to watch as the cryptocurrency bull run gets into full swing. In the past month alone, Dogecoin has gained 125%, pushing its market cap to around $26.7 billion.

Meanwhile, DOGE currently trades around $0.1867, with many holders hoping for Musk’s positive comment and more bullish sentiment to send it above the crucial $0.2 mark for the first time since late 2021.