Elon Musk has started a Twitter poll asking whether or not Tesla should accept dogecoin (DOGE, -2.48%).

  • The poll had received more than 500,000 votes within 20 minutes of its posting, with the overwhelming majority (~75%) replying "Yes."

  • The Tesla CEO appeared on "Saturday Night Live" on May 8 in which some jokes about DOGE triggered a downturn in the meme-based crypto's price.

  • Elon Musk has been known previously to discuss crypto on his Twitter page, first announcing via a tweet in March that Tesla vehicles could be purchased with bitcoin.

  • He famously described DOGE as his "fav cryptocurrency" on Twitter in April 2019.

  • Thanks in part to Musk's tweets, the price of dogecoin has risen by nearly 11,000% year to date.

  • The poll has prompted a bounce in DOGE's price, trading at $0.52 at the time of writing compared to $0.46 beforehand. 

All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

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