There is a possibility that Tesla, an automobile giant, will start accepting payments in cryptocurrencies, and DOGE is going to be one of them. This was revealed on Twitter when a user, after doing some personal research, examining Tesla’s source code and initiating some Dogecoin transactions, came to this logical conclusion.
Musk, who is one of the biggest names in the cryptocurrency industry, had asked his followers on Twitter to participate in a poll about Tesla accepting crypto payments. Most of the respondents agreed, effectively putting an end to the poll. Tesla, however, did not begin accepting Dogecoin; the implementation was halted for unknown reasons.
But it appears that it has resumed and Tesla might well be on the journey of integrating cryptocurrency payment on its platform. As seen on Twitter, a user who dug around Tesla’s source code noticed that a line contained a code for users to make their orders in SHIBA. This informed the idea that Tesla is secretly testing its crypto payment system for Dogecoin under the codename SHIBA.
Given that Musk has severally thrown his weight behind Dogecoin and not Shiba Inu, its rival memecoin, it is perhaps safe to say that the SHIBA name found on Tesla’s source code refers to Dogecoin and not Shiba Inu as it seems. But without an official confirmation, we can only speculate at best.
Twitter User Goes Digging
A Twitter user who uses the handle @Tree_of_Alpha created a tweet in which he revealed his findings after doing some research into Tesla’s website’s source code. After discovering the code, he went ahead to initiate a payment and was redirected to a DOGE payment page. It is significant to note that Shiba Inu payments are not processed on that page.
The user claimed that upon examining the source code of Tesla, he discovered a payment feature whose title mimicked another memecoin, Shiba Inu. The payment feature carried a tag with SHIBA. Another payment feature tagged Bitcoin was present; unsurprisingly. Musk had announced that Tesla would begin accepting payment in Bitcoin. The news sent excitement through the industry but in May, Musk announced that Bitcoin payment would be suspended as Tesla’s green energy policies were not aligned with the Bitcoin mining reliance on fossil energy.
There has been no official announcement of Bitcoin payments resuming soon, and neither Tesla nor Elon Musk has come out to deny or confirm the alleged SHIBA payment feature.
Memecoins Are in The Spotlight
Memecoins are currently gaining popularity in the industry. Their almost meteoric rise in recent months has piqued the interest of investors, who are drawn to the massive gains made by DOGE and Shiba Inu, the two flagship memecoins, in recent months. Dogecoin and Shiba Inu have been backed for growth, but it is Dogecoin that Elon Musk believes will become the largest coin, surpassing “Bitcoin and Ethereum.”
DOGE currently trades at $0.2726, having experienced a 4.45% drop in price. Shiba Inu (SHIB) trades at $0.00005453 after a 3.23% loss.