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Dogecoin spikes over 20% after Elon Musk says Tesla will accept it as payment for merch
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cnbc.comIn this article
Remember dogecoin?
The meme-inspired cryptocurrency skyrocketed more than 20% Tuesday morning after Elon Musk said Tesla would accept dogecoin as payment for some of its merchandise.
«Tesla will make some merch buyable with Doge & see how it goes,» the Tesla CEO said in a tweet.
Musk has frequently talked up dogecoin, calling it his favorite digital coin and mentioning it in an appearance on «Saturday Night Live.»
Dogecoin was initially started as a joke by its creators Billy Markus and Jackson Palmer in 2013. It takes its branding from the Japanese shiba inu dog which inspired the original «doge» meme.
Tweets from Musk and surging interest from a wave of amateur investors fueled a speculative frenzy in the cryptocurrency
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