JAKARTA - Just four months after electric vehicle maker Tesla began accepting Dogecoin for merchandise purchases, Elon Musk has now announced his plans to extend payment options for his space exploration company, SpaceX.
Musk, CEO of SpaceX and Tesla, has been a staunch supporter of the DOGE ecosystem since 2019 and since then he has publicly expressed his interest in accepting billion-dollar company-wide memecoin payments.
Will we also be able to pay our Starlink subscriptions via Doge, too Elon?
— Elonoshi Muskamoto (@occupymars42069) May 27, 2022
Historically, Musk's pro-DOGE tweets had an immediate and positive impact on DOGE's market price, as investors tried to cash in on the hype. However, recent disclosures about SpaceX's plans to accept DOGE payments for merchandise had no significant effect on prices amid a bearish crypto market.
Additionally, data from Cointelegraph Markets Pro and TradingView show that DOGE lost more than 55% in value between May 8 and May 13, trading at $0.08077 at the time of writing.
In December 2021, DOGE was up 25% after Musk confirmed that Tesla would accept DOGE for merchandise purchases. Along with the same schedule, this entrepreneur expressed his belief about DOGE being a better daily payment option compared to Bitcoin (BTC).
If all goes to plan, Musk may eventually start allowing DOGE payments for subscriptions to Starlink, his satellite internet product.
Not only that, Musk has also revealed that DOGE, in the future, could also open the possibility of being accepted into transactions on Twitter, if he completes the purchase of the social media platform.
Cointelegraph reported Musk recently issued a public warning against an ongoing scam in which attackers are found using deepfake technology to impersonate businessmen and promote fake crypto-shilling videos.
Originally shared on Twitter, Musk's deepfake video promotes a cryptocurrency platform that offers 30% returns on crypto deposits.
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