Tesla might have been testing Dogecoin. Tesla’s source code looked like it had an “Order with SHIBA” button, but that may have just been on the end of things.
On Twitter, a user dug around and discovered that the tweet could be related to Dogecoin (DOGE) as opposed to Shiba Inu (SHIB) cryptocurrency. It makes sense that Elon Musk would support Dogecoin, the token that was the focal point of a joke meme, over another one while if he’s being sincere. However, while this one might not have the biggest market value, it has still emerged as the 11th-largest cryptocurrency on the market at this time.
If I wait for the 30 minutes to expire, nothing happens.— Tree of Alpha (@Tree_of_Alpha) November 4, 2021
However, here’s the interesting part: if I actually send the DOGE to the address, I immediately get redirected to the previous page with an error message.
This clearly indicates that the payment has been detected on-chain. pic.twitter.com/8zUwap8Dif
Twitter user Tree of Alpha commented that when they attempted to use the Order with Shiba website, it redirected them to a ‘processing’ page where DOGE payments are accepted.
A tweet pointed out that the SHIBA name on Tesla’s page actually refers to Dogecoin, which is a cryptocurrency.
Tesla seems to be referring to Dogecoin as “SHIBA”, a code-name inspired by the Shiba Inu dog on the Dogecoin. The dog belongs to a Japanese breed called Shiba Inu.
As of now, Elon Musk has not responded to/acknowledged this development.
Elon Musk, the founder of Tesla recently posted a Twitter poll to ask how Tesla should be paid for. 78% of respondents agreed. While the coin’s name is derived from the popular internet meme “Doge”, there haven’t been any updates on its prospects as yet. The meme-based token presently trades at 27.12 US cents (approximately Rs 20) per token, according to CoinMarketCap.
Do you want Tesla to accept Doge?— Elon Musk (@elonmusk) May 11, 2021
As the hype around DOGE and SHIB tokens grows, U.S. whistleblower Edward Snowden has warned meme coins investors to be cautious.
“If you got talked into exchanging your hard-earned savings for some new dog money because a meme said you’d get rich, please carefully consider your odds,” Snowden wrote on Twitter
i say this with love:— Edward Snowden (@Snowden) October 31, 2021
if you got talked into exchanging your hard-earned savings for some new dog money because a meme said you’d get rich, please carefully consider your odds of outsmarting a market that sold to you its stake in *not even dog money but a CLONE of dog money*
Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.