Dogecoin (DOGE) is set to gain another use case thanks to the world’s richest man, Elon Musk. This comes following a revelation that the foremost meme coin will be a payment when one of Musk’s groundbreaking projects finally launches.
Dogecoin To Be Accepted When This Tesla Project Launches
DogeMemeGirl, a member of the Dogecoin community, recently drew the community’s attention to the fact that DOGE was going to be accepted when Tesla’s supercharging station in Hollywood finally launched. Her comment came as another X (formerly Twitter) user provided an update on the station, which was already coming together and could launch this year.
Indeed, DOGE is going to be a payment option when this happens. Musk himself confirmed in an X post in 2022 that customers will be able to pay with the meme coin when the supercharging station finally launches. As highlighted by DogeMemeGirl, this development signifies “exciting times” ahead for DOGE, considering the magnitude of this project.
The charging station in Hollywood will feature a “futuristic diner and drive-in theater,” meaning that DOGE’s utility could extend by a considerable amount. The station’s location is also strategic, as the meme coin could also get introduced to some of Hollywood’s finest. Once that happens, it could provide a boost to DOGE’s price, which has remained tepid for a while now.
DOGE price at $0.08 | Source: DOGEUSD on Tradingview.com
Musk Now ‘Walking The Walk’ With DOGE
Musk has, for the longest time, been known to have a likeness for the foremost meme coin. However, before now, his fondness for DOGE had mainly been shown in his cryptic X posts about the crypto token. Now, the world’s richest man looks to be showing through his actions that his interest in DOGE is deeper than that.
Musk’s biography, which was released last year, showed that DOGE could become an integral part of his long-term plan to create an ‘everything app’ that will also serve as a payments platform. This plan already seems to be in motion as the X platform, owned by Musk, recently hinted that its payment service could go live this year.
This announcement has further fuelled speculations that Dogecoin payments could be integrated into X when this happens. Such a development will be huge for DOGE and its community. Meanwhile, this happening will more than likely cement Musk’s status as the “Dogefather,” a name which he had previously conferred on himself.
Interestingly, the world’s richest recently reaffirmed his love for the meme coin as he revealed that he still owns a “bunch of Dogecoin.”
Featured image from Corporate Finance Institute, chart from Tradingview.com
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Author: Scott Matherson