Dogecoin Price Prediction as Tesla Now Accepts DOGE Payments
The Dogecoin price has bounced back faster than any other top ten crypto coin in the last seven days. The world’s favorite meme coin added 18.8% over the last week and currently trades at $0.1676.
Dogecoin’s rally comes following an announcement that made the rounds on X that Tesla is now accepting DOGE as payment for merch from the EV company’s online store. However, whereas back in 2021, news like this could very easily pump the price, this week’s rally appears to be driven by broader market movements.
#Tesla has updated payment methods to include DOGE$DOGE has moved more than 40% in the last 4 days. Was it an anticipatory move?https://t.co/iZVjNRmtJk pic.twitter.com/aGHYb1VtC2
— Kyledoops (@kyledoops) May 4, 2024
By contrast, neither of the two leading cryptocurrencies came anywhere near to that level of appreciation this week. The original cryptocurrency, Bitcoin ($BTC), grew 4.5% to $65,185, while its number one contender, Ethereum ($ETH), added 1% to trade at $3,203 as of this writing.
Meme coins are posting some of the largest seven-day price rallies in the market right now. While Dogecoin’s rally stands out like a sore thumb among the ten largest cryptocurrencies by market capitalization, it’s one of the weaker performing assets among the five largest meme coins.
Crypto’s fifth largest meme coin, Floki ($FLOKI), a $2 billion market cap token made by fans of Elon Musk’s eponymous pet Shiba Inu, grew 19% since last Monday to hit $0.0001973 as of this writing.
DogWifHat ($WIF) and Pepe Coin ($PEPE)—the fourth and third largest meme coins both with market caps just above $3.5 billion—ballooned 30% or more over the last seven days and now trade at $3.62 and $0.059055 respectively.
Over on Dogecoin’s trading chart for the
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