Dogecoin enthusiasts have recently flared up again discussions about the future of the meme coin after an observation shared on the social media platform Interestingly enough, this plays a role in the current bullish sentiment surrounding DOGE and rumors about Tesla’s plans to officially accept DOGE as a form of payment.
Dogecoin code in Tesla’s payment: a long-standing detail revisited
The inclusion of Dogecoin into Tesla’s payment infrastructure has been known for some time, but the timing of the renewed focus has drawn attention. Remarkable: it is coming during a notable price correction for the meme cryptocurrency.
In October 2023, reports surfaced about mentions of DOGE in the source code of Tesla’s Cybertruck checkout page. Especially crypto influencer MartyParty beyond identified 50 references to Dogecoin in the code.
However, the renewed interest stems from a recent post by Dogecoin enthusiast KrissPax on the social media platform X. He highlighted the presence of a DOGE code in Tesla’s payment systems, to report:
“Don’t forget that there is Dogecoin in the Cybertruck and Model 3 Tesla payment codes. No other cryptocurrencies – just Dogecoin. I’m just waiting for Tesla to enable this option!”
Although Tesla’s Cybertruck has now been launched, the DOGE payment feature has not yet been activated this year. Nevertheless, its presence in the code suggests that Tesla is keeping the door open to enable DOGE transactions in the future.
What does this mean for DOGE?
Tesla CEO Elon Musk has been one for quite some time vocal supporter of Dogecoinwith its use often passed on for everyday transactions. Are enthusiasm for DOGE has been evident from numerous public statements of support, including Tesla’s decision in January 2022 to accept DOGE as payment for select merchandise. This venture created a utility of sorts for DOGE, which is known for its meme status.
However, a permanent integration of DOGE as a payment method for Tesla cars would be the final straw in the electric vehicle maker’s creation of utility for the meme coin. A move of such magnitude would not only improve Dogecoin adoption but also open it up to another path of inflows, which would in turn aid price growth. Furthermore, other companies could follow in Tesla’s footsteps and make DOGE a payment method.
Interestingly, such a move wouldn’t be the first time Tesla accepted crypto payments for its vehicles. In 2021, Tesla started allowing customers to use Bitcoin as a means of payment. The initiative was short-lived, however, as Tesla halted Bitcoin payments just months later due to environmental concerns over the growing energy consumption of Bitcoin mining and transactions.
At the time of writing, Dogecoin price is trading at $0.3842, down 0.92 and 1.69% in the past 24 hours and seven days, respectively.
Featured image created with Dall.E, chart from Tradingview.com