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 27, 2022 at 4:10 p.m. UTC

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

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%.

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

CoinDesk - Unknown

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