Tesla, of which Musk is CEO, started accepting dogecoin as payment for its merchandise early this year.
The changes suggested by Musk include slashing the premium service's price, banning advertising and giving an option to pay in the cryptocurrency dogecoin.
From El Salvador adopting Bitcoin as legal tender to a $69 million NFT being sold, 2021 was a singular year for the industry.
The meme coin raced up to $0.20 after Elon Musk announced that his electric vehicle company would make merchandise buyable with the cryptocurrency.
Whatever his intention, Elon Musk has put Dogecoin investors in a vulnerable position. Should Bitcoin holders be worried too?
Dogecoin was quoted as low as $0.416 on crypto exchange Binance, down 36 percent from levels around $0.65 before Elon Musk called it a 'hustle' during his guest-host spot on the "Saturday Night Live."
The latest spike in the price of meme-based cryptocurrency is fuelled by renewed endorsements by the billionaires and listings on eToro and Gemini exchanges.
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