Popular meme coin, Dogecoin has reacted positively to the latest news coming from Elon Musk that the token can now be used for making purchases on Tesla store by increasing by 16%.

CEO of Tesla, Elon Musk, who is known for his open support for Dogecoin and tweets supporting the meme coin, tweeted earlier Friday that customers can now buy Tesla’s merchandise with Dogecoin.

“Tesla merch buyable with Dogecoin,” he tweeted.

 In the last 24 hours, bitcoin has been down by 3.96%, with a current price of $42,500.47 as of the time of writing this. Within 24 hours, bitcoin dropped to $41,800 low and $44,260.50 high. The trading volume of bitcoin in the last 24 hours is $1.16B. The current market capitalization of bitcoin is $804.95B. Currently, $18.93M bitcoins are in circulation.

Stats and Image from Coin Desk

According to data from crypto analytics site CoinGecko, Dogecoin experienced a daily high of $0.2 today, shortly after the tweet. The coin surged by 16% and recorded 24 hours high of $0.200369 before settling on the $0.192342 current price.

Some of the merchandise people can use DOGE to purchase on Tesla Store include the Giga Texas Belt Buckle for 835 DOGE, a Cyberwhistle for 300 DOGE, and a kids Cybersquad, which sells at 12,020 DOGE.

Musk had hinted about Tesla’s plans to start accepting DOGE in mid-December when he tweeted that “Tesla will make some merch buyable with Doge & see how it goes.”