Dogecoin's price rose 20% after Elon Musk asked his Twitter followers if he should accept the currency as a means of payment.Elon Musk continues with his support for the biggest cryptocurrency meme – Dogecoin. Tesla's CEO asked if his giant electric car maker should start accepting DOGE as payment for the products. And then, as expected, the price of the token went up immediately. The billionaire asked this question on Twitter to his nearly 55 million followers, and almost 1 million of them answered yes, forming the majority. And as typically happens when Musk suddenly posts something about Dogecoin, the price went up 20%, from $ 0.46 to $ 0.55.
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Musk's Twitter search came at a very attractive time for the token. A few days ago, the billionaire introduced Saturday Night Live and joked about Dogecoin. Although he actually raised the price of the meme coin, there was a “news sale” moment, and its price plummeted from $ 0.75 to less of $ 0.42 in days. Speculators had already profited from the expectation for the SNL with Elon Musk of May 8 and dumped during the program. However, DOGE has been among the best cryptographic performers since the beginning of the year, with a massive return (ROI) , which emerged after several celebrity engagements. In addition to Musk, others who followed suit were Snoop Dogg, Mia Khalifa, Gene Simmons and Mark Cuban. In addition, several notable companies allowed dogecoin payments for their services. However, if Tesla does go ahead with the addition of DOGE, it would be by far the biggest company to do so. Earlier this year, the electric vehicle giant allowed the payment of bitcoins and even said it would keep all funds in BTC instead of converting them into dollars. It came after the company bought $ 1.5 billion in bitcoin in January 2022.See also: Addresses with few bitcoins explode to more than 8 million in 2022