Electric vehicle maker Tesla (NASDAQ:TSLA) has officially added meme-based cryptocurrency Dogecoin (DOGE) to its list of available means of payment.
On May 4, the company updated its website and added information that Dogecoin is accepted as payment for some products in the Tesla store. As before, only merch can be purchased with DOGE for now. As an experiment, the organization began selling goods for Dogecoin in January 2022, and, apparently, the testing was completed successfully.
The Dogecoin market practically did not react in any way to the news about the final integration of the cryptocurrency into the Tesla platform, because over the past 24 hours the coin has fallen in price by less than 1%. The bullish trend that emerged on May 1, which saw DOGE rise in price by 42%, was driven by positive sentiment in the cryptocurrency market and whale activity.
However, despite the impressive pump, it is too early to declare the end of the bearish trend. During the correction on May 5, the price of Dogecoin dropped below the downward trend line, unable to stay above this barrier. if buyers do not seize the initiative, the DOGE price will go down again and update the bottom reached on May 1.
