Dogecoin (DOGE) could soon be accepted by Elon Musk’s Starlink

Elon Musk, the world’s richest person, has hinted that another of his companies, Starlink, would soon accept Dogecoin (DOGE/USD). Musk continues to be a major advocate of the meme coin despite being around 80% below its all-time high.

Starlink could accept DOGE

Musk has hinted that Starlink, an internet service provider, could start accepting Dogecoin as a means of payment. Musk was responding to a query from a member of the Dogecoin community on when such a move would be made, after which Musk responded with a winking face emoji.

Starlink is a company that seeks to offer high-speed internet to customers in areas where internet connection is almost impossible to reach. Starlink has launched around 2000 functional satellites. Starlink services cost around $99 monthly, while the hardware kit costs $499.

Dogecoin is Musk’s favourite cryptocurrency. SpaceX, a company where Musk is also the CEO, could accept Dogecoin payments. SpaceX is already involved with Dogecoin. The space exploration company has endorsed DOGE for the DOGE-1 moon mission to be launched within the first quarter of 2022.

Musk’s Tesla has gone all in with Dogecoin. Last year, the electric car manufacturer started accepting Bitcoin payments. However, Musk revealed that this initiative was stopped due to the environmental concerns surrounding the Bitcoin mining process. In a recent filing with the US Securities and Exchange Commission (SEC), Tesla revealed that it has $2B worth of BTC holdings.

Recently, Tesla announced that some of its merchandise would be eligible for purchase with Dogecoin, a move that saw the meme coin spike in price. Towards the end of last month, Musk urged McDonald’s to accept DOGE payments. However, the fast-food joint is yet to make this move. If you want to learn more about Dogecoin, you can check our full comprehensive guide.

Dogecoin returns to the top 10

Dogecoin has not been performing well, with its price action replicating the broader cryptocurrency market. Despite this trend, the meme coin has managed to come closer to reclaiming a position among the top ten cryptocurrencies.

At the time of writing, Dogecoin was ranking as the 11^th largest cryptocurrency by market cap, according to CoinMarketCap. Dogecoin’s market cap is sitting at $19.19B, and it is close to surpassing Avalanche’s pf $19.22B.