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Tesla's Acceptance Of Dogecoin Receives Much Fanfare, Merch Begins To Get Sold Out Within Hours

Tesla Inc.’s (NASDAQ:TSLA) acceptance of Dogecoin CRYPTO: DOGE) to buy merchandise on its online shop has received an overwhelming response, with some of the merchandise beginning to get sold out within just hours of the decision.

What Happened: Tesla CEO Elon Musk announced on Twitter that Tesla merchandise is now buyable with Dogecoin.

Musk’s tweet received more than 150,000 likes and was also retweeted more than 28,000 times, as at press time.

The Cyberwhistle, which was priced for 300 DOGE in the “lifestyle” section of the online shop was sold out entirely within hours. The item is currently displayed as “out of stock.”

Products such as Giga Texas Belt Buckle and the Cyberquad for Kids were also priced in DOGE and can be bought using the cryptocurrency. The belt buckle was listed for 835 DOGE and the Cyberquad for Kids was priced at 12020 DOGE.

Not all products on the website can be purchased using the meme cryptocurrency.

Dogecoin YouTuber Matt Wallace said he has purchased a product on the Tesla website using Dogecoin.

Dogecoin co-creator Billy Markus also took to Twitter to express his happiness with Tesla’s decision.

See Also: How To Buy Dogecoin (DOGE)

Why It Matters: Musk — a big proponent of Dogecoin — surprised cryptocurrency enthusiasts and Tesla fans last month when he said the electric vehicle maker will make some merchandise buyable with Dogecoin.

Dogecoin quickly become one of the world’s leading cryptocurrencies after skyrocketing in value early last year. Musk’s tweets regarding Dogecoin sometimes have an overwhelming impact on the price of the meme cryptocurrency.

Price Action: Tesla’s shares closed almost 6.8% lower in Thursday’s regular trading session at $1,031.56.

Dogecoin is up 12.8% during the last 24 hours, trading at $0.1959 at press time.

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