Would You Buy A Tesla With Dogecoin? Elon Musk Wants To Know As Shiba Surges To $0.54

Elon Musk has sent Dogecoin soaring once again with a tweet in the early morning hours Tuesday about the cryptocurrency.

The Tesla (TSLA) CEO asked his 52.9 million Twitter followers if they wanted Tesla to start accepting Dogecoin as payment for EVs. Musk asked the question in the form of a poll that garnered 1.69 million responses as of early Tuesday morning, with 20 hours still left to respond.

The Twitter post from Musk sent Dogecoin prices up from about 46 cents to as high as 54 cents, according to Coinmarketcap.com, as reported by Bloomberg. As of Tuesday early morning, Dogecoin was priced just over 50 cents, as listed by Coinmarketcap.com.

The Twitter poll from Musk received 750,000 responses within 30 minutes of being posted, Bloomberg said.

Back in March, Tesla announced that it would begin accepting Bitcoin for payment of its electric cars. At the time, the automaker invested $1.5 billion into the cryptocurrency, which paid off for the company by the end of March to the tune of $2.5 billion.

In a securities and exchange filing, Tesla said that its Bitcoin investment was worth $2.48 billion as of March 31.

The news of the possible Dogecoin payment comes as Musk appeared on “Saturday Night Live” over the weekend and jokingly called the Shiba Inu coin “a hustle.”

Despite Musk poking fun at Dogecoin, he has shown significant support of the cryptocurrency in recent months on Twitter, calling it “the people’s crypto.”

He has also bought Dogecoin for his son, saying he is now a “toddler hodler,” and gained support of the currency from rapper Snoop Dogg and KISS frontman Gene Simmons.

Musk has even led on that he was going to get a Shiba Inu dog – the Dogecoin’s mascot.

In what has been called the “Musk Effect,” the entrepreneur has pushed Dogecoin’s price upwards with each tweet he posts about the currency much like he has done in other posts about companies such as Etsy, Signal, GameStop, Shopify, and Cyberpunk’s CD Projekt.

Shares of Tesla were trading at $588.88 as of premarket hours on Tuesday, down $40.16, or 6.38%.