Why Elon Musk’s SpaceX Could be Testing Dogecoin Payment Options

Varuni Trivedi
Updated: Feb 17, 2022, 18:46 GMT+00:00

Amid speculations of Aerospace manufacturer SpaceX looking to add support for a Dogecoin payment option, DOGE prices show no major uptick.

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Tesla chief Elon Musk has had his fair share of love for meme tokens. Unsurprisingly, as the recent news that SpaceX could be testing a Dogecoin payment option was circulating on crypto Twitter, the Doge army seemed to cherish the same, anticipating a major rally ahead. 

A Good Day for the Dog(e)

As per speculations by Doge community members, the American aerospace manufacturer SpaceX seems to be testing a Dogecoin payment option.

Mishaboar, a prominent name in the Dogecoin community, pointed out that SpaceX uses Shopify as an e-commerce solution and that he has found the name of the cryptocurrency in the source code of SpaceX’s merch store.

On the contrary, the reason Doge appears on the code could be because the tech firm added cryptocurrency payments for merchants in May 2020.

Nonetheless, the rumors that Doge could be accepted stemmed from the fact that Tesla CEO Elon Musk has recently hinted that both SpaceX and Starlink (his satellite internet company) were working on accepting the meme coin.

Responding to a tweet from a user suggesting SpaceX’s merchandise store and Starlink could accept DOGE, Musk replied with a winking emoji. Many interpreted this reaction of Musk’s to be his way of hinting that the aforementioned could take place. 

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Source: Twitter

Musk’s Dog(e) Love

Notably, American electric vehicle company Tesla, allowed its customers to buy merchandise with Dogecoin in January this year. Interestingly, the payment option was discovered as a ‘hidden feature’ on the company’s official website a few days prior to the official announcement. 

However, Tesla still doesn’t accept any crypto payments for vehicles after Musk withdrew his support for Bitcoin last year in May over the currency’s negative environmental impact.

Musk’s love for Dogecoin has often been witnessed by Twitter users and occasional Tweets about the meme-coin have aided short-term DOGE rallies too.

The tech tycoon’s influence on the market goes to the extent that meme tokens like Floki Inu, named after Elon Musk’s Shiba Inu dog have also gained considerable social attention. 

Nonetheless, the top meme token still remains Dogecoin, even though Shiba Inu has occasionally managed to surpass DOGE’s market cap. Notably, SpaceX was the first Elon Musk company to accept Dogecoin, but it was a one-off payment for a yet-to-be-launched lunar payload called ‘DOGE-1 Mission to the Moon.’

For now, while SpaceX could accept Dogecoin payments with the help of Shopify, it remains to be seen whether it will have a custom implementation. At press time, DOGE traded at $0.1446 noting 1.96% daily and 7.99% weekly losses. 

About the Author

A Journalism post-graduate with a keen interest in emerging markets across South East Asia, Varuni’s interest lies in the Blockchain technology. As a financial journalist, she covers metric and data-driven stories with a tinge of commentary, and strongly believes in HODLing.

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