Just four months after EV maker Tesla accepted Dogecoin (DOGE) for business purchases, Elon Musk announced his plans to expand payment options for his space exploration company SpaceX.
Musk, the CEO of SpaceX and Tesla, has been a staunch supporter of the DOGE ecosystem since 2019 and has since publicly expressed interest in accepting Mem Coin payments at his multi-billion dollar ventures.
Tesla merch can be bought with Doge, soon SpaceX merch too— Elon Musk (@elonmusk) 27 May 2022
Historically, Musk’s pro-Dogecoin tweets have had an immediate and positive effect on DOGE’s market price as investors seek to capitalize on the hype. However, recent revelations about SpaceX’s plan to accept DOGE payments for goods had no significant effect on the price amid a bearish crypto market.
Furthermore, data from Cointelegraph Markets Pro and TradingView shows that DOGE lost over 55% in value between May 8 and 12, trading at $0.08077 at the time of writing.
In December 2021, after Musk confirmed that Tesla would accept DOGE for goods, DOGE gained 25%. With a similar time frame, the entrepreneur revealed his belief about DOGE being a better daily payment option than bitcoin (BTC).
May be one day— Elon Musk (@elonmusk) 27 May 2022
If things work out according to plan for the world’s richest man, Musk may finally start allowing DOGE payments for Starlink memberships.
related: ‘Yes!’ Elon Musk Warns Users Against Latest Deepfake Crypto Scam
Musk recently issued a public warning against an ongoing scam that has found attackers posing as entrepreneurs and using deepfake technology to promote fabricated crypto-shilling videos.
Oh. Def me not.— Elon Musk (@elonmusk) 25 May 2022
Originally shared on Twitter, Musk’s deepfake video promoted a cryptocurrency platform claiming 30% returns on crypto deposits.