Dogecoin fan and Tesla CEO Elon Musk has added the popular meme coin Dogecoin as a payment method for some Tesla products, according to the FAQ section on Tesla’s official website. This comes a month after Elon Musk hinted that he would accept Dogecoin as an official form of payment for his cars at some point in the future. Traders reacted immediately to the news. Thus, the DOGE price skyrocketed by over 20 percent in the last 24 hours.

Dogecoin is among the payment options on the Tesla website!

Cryptocoin.comTesla CEO Elon Musk has always been a supporter of Dogecoin. Elon Musk’s electric car maker Tesla has started accepting Dogecoin as a payment method in Tesla Stores. According to a Dogecoin support page on the Tesla website, customers should look for the Dogecoin symbol next to the “order” page of Dogecoin-eligible products.

Tesla products can only be purchased through a Dogecoin wallet. On the relevant page: “All eligible Tesla products will have explicit prices in Dogecoin. This price will also include applicable taxes.” However, there are some conditions when making Dogecoin payments. These include not accepting payments from multiple wallets for a single order, an order placed once cannot be canceled, and returns are not valid for products purchased with Dogecoin. In this regard, “Tesla only accepts Dogecoin. Tesla cannot receive or detect other digital assets. Be sure to make your purchase with Dogecoin.”

Meme coin price skyrocketed after the development!

Elon Musk introduced the meme coin Dogecoin to a crowd at the Tesla Gigafactory near Berlin, Germany, in March. It was a matter of curiosity when the electric vehicle manufacturer would start accepting Dogecoin as a payment for its cars. When asked about this, Musk said he thought the company “should enable it at some point.”

DOGE price has increased by more than 20% in the last 24 hours. The meme coin is currently trading at $0.1656. The 24 hour low and high are $0.137 and $0.1691 respectively. Also, the trading volume has increased by over 90% in the last 24 hours. This shows that there is a lot of interest among traders.

DOGE daily price chart. Source: CoinMarketCap