Dogecoin Jumps on Elon Musk SpaceX Tweet

The Tesla CEO said merchandise for his space exploration startup could soon be bought using the meme cryptocurrency.

AccessTimeIconMay 27, 2022 at 3:52 p.m. UTC
Updated May 11, 2023 at 5:39 p.m. UTC

Tesla (TSLA) CEO Elon Musk is once again helping his pet cryptocurrency, dogecoin (DOGE), gain some momentum.

  • The billionaire tweeted Friday morning ET that merchandise for SpaceX, his space exploration startup, will soon be able to be bought with dogecoin, just as it can be for Tesla merchandise.
  • The price of dogecoin jumped as much as 10% to nearly 9 cents immediately following the tweet, before recently settling to a gain of about 7.7%.
  • In December, Musk’s announcement that Tesla merchandise could be bought with dogecoin helped DOGE prices surge as much as 33%.
  • What Do EigenLayer's Outflows of $2.3B Signal?
    00:57
    What Do EigenLayer's Outflows of $2.3B Signal?
  • What Do TradFi Crypto Moves Mean for Decentralization?
    04:20
    What Do TradFi Crypto Moves Mean for Decentralization?
  • Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
    02:02
    Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
  • Ether Slides as Grayscale's ETHE Outflows Ramp Up
    00:53
    Ether Slides as Grayscale's ETHE Outflows Ramp Up
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Nelson Wang

    Nelson Wang was CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.


    Read more about