Dogecoin (CCC:DOGE-USD), while not the trendiest pupcoin, is still the progenitor of the dog-themed asset class and one of the most iconic cryptocurrencies of all time. The earliest “meme coin,” Dogecoin transcended its joke status and is now a crypto with a dedicated user base. This user base spends much of its time in dialogue with Dogecoin developers, suggesting changes for the network; otherwise, the vocal DOGE bulls take to social media to campaign for their coin to be adopted as a payment method. Today, there’s rumor floating around about a new payment partnership between DOGE and Tesla (NASDAQ:TSLA). The rumors of Dogecoin Tesla payments are doing well to uplift Dogecoin prices today.
Dogecoin and Tesla have a deep history. Indeed, Tesla leader Elon Musk is a devout Dogecoin bull. The billionaire entrepreneur spent much of 2021 waxing poetic over Dogecoin on Twitter, making DOGE memes and even adopting a Shiba Inu puppy in homage to the currency.
Additionally, it was revealed in the last year that Elon Musk isn’t just a DOGE bull. Rather, he’s an important resource for the Dogecoin development team. Indeed, Musk plays an advisory role for the network, offering up advice about changes and helping to shape the Dogecoin ecosystem; the developers reveal he has been doing this for years now.
Dogecoin Tesla Payments Coming Soon, According to DOGE Sleuths
Today, it looks like Musk could be looking to take his relationship with Dogecoin to a new level. Thanks to some savvy Dogecoin bull sleuthing, it looks like Dogecoin Tesla payments could be on the horizon.
This news is certainly in line with Elon Musk’s vision for cryptocurrency as a means of transacting goods. Early in the spring of 2021, Musk announced Tesla would take Bitcoin (CCC:BTC-USD) payments for its vehicles. This of course never happened; Elon Musk almost immediately reversed this plan after he learned of the huge energy requirement for mining Bitcoin.
The rumors are obviously not confirmed yet. But, this stands to be a huge catalyst for Dogecoin; it can help the coin break out of its rut between 10 cents and 30 cents. Indeed, Dogecoin Twitter is abuzz as a result of the speculation. Thousands of tweets are flowing into the platform this afternoon talking about the potential news. DOGE is also on the rise, gaining 7% this afternoon. Trading volume is doubling as well, with nearly $1.6 billion in DOGE swapping hands today.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.