The Tesla boss is planning to bolster the utility of DOGE by accepting the cryptocurrency as payment for SpaceX merchandise.
Elon Musk, the CEO and founder of Tesla, has suggested that he would be continuing his support for the popular memecoin Dogecoin (DOGE).
According to a recent tweet by the Tesla exec, Dogecoin users will soon be allowed to use the cryptocurrency to purchase a variety of merchandise from the SpaceX online store.
“Tesla merch can be bought with Doge, soon SpaceX merch too,” the former world’s richest man disclosed in a tweet today.
Tesla merch can be bought with Doge, soon SpaceX merch too
— Elon Musk (@elonmusk) May 27, 2022
While Musk did not disclose when Dogecoin users will start using the cryptocurrency to purchase SpaceX merchandise, it is expected that the service will be rolled out later this year.
Once the service is available, Dogecoin users will be able to buy different SpaceX merchandise like Kid’s SpaceX spacesuit, unisex starship pullover hoodie, and a variety of other items.
The development comes a few months after Musk announced that the popular memecoin could be used to purchase Tesla products, including electric cars and other accessories.
Musk’s Continuous Support for Dogecoin
The news may not shock many cryptocurrency enthusiasts because Musk has been a major supporter of Dogecoin for over a year.
Musk is considered as one of the reasons why Dogecoin had an interesting rally in the early stages of last year, with the cryptocurrency surging as high as nearly $0.8.
Although DOGE has plummeted rapidly from its previous all-time high of $0.73, that has not deterred Musk from declaring his support for the popular memecoin.
Earlier this year, Musk continued to throw his weight behind the project. Musk suggested two months ago that if famous microblogging platform Twitter does not promote free speech, he may be forced to consider developing a decentralized social media platform that will use Dogecoin.
However, Musk plans to develop a decentralized social media platform that does not look like it will happen anymore as the Tesla exec has been given the approval to acquire a 100% Twitter stake.
Widespread Dogecoin Acceptance
Aside from Musk accepting Dogecoin, the cryptocurrency has become increasingly popular among online merchants, as it continues to be adopted as a payment method.
As reported, DOGE is currently accepted as a payment method across ten publicly-listed companies in the United States.
DOGE Soars 5% In 24 Hours
The news that Dogecoin users will soon be allowed to buy SpaceX merchandise caused the cryptocurrency to record a slight gain in the hour leading to press time.
At press time, Dogecoin is up 5% in the last 24 hours, as it is currently changing hands at $0.08.