DOGE Growth Rate Increases by 4.5% After Tesla’s Gigiafactory Launch Display

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The Launch Event

Popular memecoin Dogecoin (DOGE) experienced a spike in its price after the display of a dog mascot at the launch of a new manufacturing plant for American electric car company Tesla. The dog mascot, representing Dogecoin and Shiba Inu, featured in a drone display at the launching of the Texas Gigafactory called Cyber Rodeo.

Growth Rate Up 4.5%

A few moments after the Dogecoin mascot’s appearance at Tesla’s drone display, the token price rose slightly, pleasing the DOGE token holders.

Data on Coingecko showed that dogecoin went up 4.5% in the last 24 hours after the surprise feature of the memecoin mascot. The cryptocurrency, which traded at a low of $0.141 yesterday, spiked to a high of above $0.151. DOGE is currently changing hands around $0.150 moments after the event.

Tesla Boss DOGE Support Continues

Dogecoin’s mascot feature in Tesla’s Cyber Rodeo may not surprise many because the owner of the American electric car company, Elon Musk, has never hidden his support for the memecoin. 

Musk has promoted the token on his Twitter handle severally, causing the asset’s value to increase. He also went a step forward in his support for DOGE by enabling Dogecoin payments to purchase Tesla cars.