To the Tesla?
After SpaceX-Dogecoin payment, billionaire Elon Musk shocks the Twitter world again after tweeting a poll asking people if they wanted Tesla to accept Dogecoin as mode of payment for the electric cars. As expected, the answers are leaning towards the meme coin.
Tesla to accept Dogecoin?
On Tuesday, May 11, Musk posted a poll on his personal and famous Twitter account: Do you want Tesla to accept Dogecoin? It seemed like a fair question since SpaceX announced accepting the coin as well. However, compared to the SpaceX bit, the Tesla possible partnership with Dogecoin seemed to interest more investors on the coin.
The DOGE value spiked by as much as 20%, hours after Elon posted the tweet. From almost $.44 cents, the value went high up to $.53.
Hours after his post, over 1.4 million people have already responded to the question. Most of them says yes to the proposal with over 70% average. Meanwhile, other opposes to the idea with at least 30% average. The poll will only be available for 24 hours so make sure you will take your vote on this one.
Aside from the fair question posted above, Elon has not yet given any comments about Dogecoin since the last airing of his episode at Saturday Night Live (SNL), last Saturday, May 8. Surprisingly, compared to his tweet posts, the effect of his much-awaited episode went flopped for the said meme coin.
Dogecoin flops after SNL episode
Over the last weekend, a lot of people have waited for the hosting episode of Elon Musk at SNL. Most of the predictions before the episode were saying that the coin will reach its $1 goal after the show.
“Also known as the Dogefather, Musk will undoubtedly have a sketch on cryptocurrencies that will probably go viral for days and further motivate his army of followers to try to send dogecoin to the moon,” wrote Edward Moya, senior market analyst at Oanda, in a note on May 4.
Unfortunately, this didn’t happen. In fact, in much worse case scenario, the coin went from $.70 to almost $.53 at the time. The next days for Dogecoin didn’t also follow the plan. Since Monday, May 10, DOGE reached its lowest value for this month with average of $.42.
One of the many reasons of the Doge flopped, as observed by Twitter users, was Elon’s words saying that Dogecoin was a ‘hustle.’ Though, we could still give him credit for saying on national television that he will give Doge coins as a Mother’s day gift for his mom. And calling it equal to a ‘dollar.’
“What is dogecoin?” He replied: “It’s the future of currency. It’s an unstoppable financial vehicle that’s going to take over the world.” When a cast member, Michael Che, countered: “So, it’s a hustle?,” Musk responded: “Yeah, it’s a hustle,” and laughed.
Is it still safe to hold?
If you have DOGE on your wallet, many people on Twitter believes that holding it would be a great idea in the future. However, you must remember, cryptocurrencies are volatile market that you should be careful with.