“Tesla merch buyable with Dogecoin.”
That single tweet by the CEO of the electric-car maker, Elon Musk, sent meme coin Dogecoin DOGEUSD, +11.17% surging by 14% to $0.198893 on Friday. That’s against modest losses for bitcoin BTCUSD, -1.92% and across the rest of the cryptocurrency space, in what has been a bumpy year so far for digital coins.
Musk sent Dogecoin flying in mid December after he announced Tesla TSLA, -6.75% would accept dogecoin as payment for some merchandise. “Tesla will make some merch buyable with Doge & see how it goes,” Musk tweeted at the time on Twitter TWTR, -3.85%.
As for what merchandise specifically can be bought with Dogecoins, Tesla’s website listed a cyberwhistle for 300 Doge on its website, while 12020 Doge will buy a Cyberquad for kids.
It isn’t the first time Musk has held Dogecoin fortunes in his hands. Last May, the meme coin slid 40% after the influential CEO cracked a joke about it on “Saturday Night Live.” The meme coin’s price had shot higher after Musk said Tesla would stop accepting bitcoin as payment for its cars and said dogecoin could be a better replacement.