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The value of meme-based cryptocurrency Dogecoin soared on Friday morning following Elon Musk said Tesla will accept the popular token as payment for some of its wares, a sign of the electric carmaker’s renewed interest in digital currencies after temporarily accepting payment in bitcoin last year.

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After Musk made the announcement on social media, the price of Dogecoin jumped nearly 12% on Friday morning, at one point trading just above $0.2.

musk tweeted: “Tesla merch that can be purchased with Dogecoin” and the company’s online store have been shown Prices for some items—in both US dollars and the popular crypto token—include a whistle inspired by its much-anticipated Cybertruck model (300 DOGE), an electric quad bike for kids (12020) and a belt buckle (835).

Dogecoin’s growth is notable amid the relative calmness of the top cryptocurrency, which has remained relatively flat over the past 24 hours.


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