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Dogecoin is better suited for transactions and Tesla will accept it, says Elon Musk

Dogecoin is better suited for transactions and Tesla will accept it, says the Tesla Boss. Elon Musk has been nominated Times person of the year recently and this announcement came after he said that DOGE can work as a better payment system.

Dogecoin is better suited for transactions:

DOGE father is back with its full support for the original meme currency. DOGE had immense support from the Tesla boss this year. During the bullish market in May, Dogecoin almost made to the $1 price mark. Musk has even said that DOGE is way better than the flagship currency, Bitcoin. At his TIMES person of the year, Musk didn’t forget to mention Dogecoin saying that the token can work as a better payment system than BTC.

Dogecoin is better

Musk has tweeted that Tesla will allow DOGE payment for some of its merchandise. The tweet of the Tesla boss shows that they are going to analyze how this new payment method works with the system. Before this tweet, he has said that Dogecoin is better suited for the transaction. Musk has emphasized that Bitcoin is a better store of value but it will not work for daily payments. This announcement has made a positive impact on the token.

Dogecoin is better
Dogecoin’s price chart on Tuesday. Source: Bitcoin.com Markets

The price of dogecoin popped 28.5% from $0.1699 at the time of Musk’s tweet to $0.2183 in just over an hour based on data from Bitcoin.com Markets. Dogecoin is better suited for transactions or not but one thing is for sure that if this immense support continues the token’s price will reach the moon very soon.

Read more here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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