SpaceX, Elon Musk’s space exploration company, will soon accept Dogecoin as payment for merchandise, alongside Musk’s other company, Tesla.

“Tesla merch can be bought with Doge, soon SpaceX merch too,” tweeted the multi-billionaire on Friday. When asked whether subscriptions for Starlink, a satellite-based, broadband internet system, might be payable in DOGE, he responded, “Maybe one day.”

In expected fashion, Dogecoin’s price immediately shot up after the announcement. At 11:24 a.m. ET (three minutes before the tweet), the meme coin was trading at $0.078, according to CoinGecko. By 11:50 a.m., it had jumped to $0.084—about an 8% rise. The pump, though, was somewhat short-lived. The price of Dogecoin is now down to around $0.080. That’s still good for an increase of just over 1% for the day for DOGE—while the rest of the crypto market is down considerably.

The Tesla CEO has wielded strong influence over Dogecoin’s price since early last year. After announcing his company’s $1.5 billion Bitcoin purchase in February 2021, he followed up with a series of bullish tweets about Dogecoin, coinciding with its eventual yet temporary rise to a top three cryptocurrency by market cap.

Though the coin is yet to return to those highs, the power of Musk’s tweets remain evident. The coin underwent another 20% surge in December when Musk announced Tesla would soon accept DOGE for merch, which he reaffirmed today. Months before that, the so-called Dogecoin killer

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