The meme-based altcoin had been lagging behind Bitcoin (BTC) and other large-cap tokens this week, but a turnaround delivered DOGE holders a 10% weekly gain.

Following Musk's announcement that the automaker would soon take DOGE for items, the cryptocurrency made the move.

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He tweeted, "Tesla will make some items buyable with Doge and see how it goes."

As a result, Tesla takes the unique step of accepting only Dogecoin out of all the cryptocurrency options available. Musk runs the danger of enraging Bitcoin supporters, having previously permitted then disallowed Bitcoin purchases for Tesla automobiles due to purported environmental issues.

Musk stated that Dogecoin is "better suited for transactions" than Bitcoin after being named Time Magazine's "Person of the Year" this week.

"The overall transaction flow that you conduct with Dogecoin, like transactions per day, has a far bigger potential than Bitcoin," he stated, adding to a long list of prominent endorsements for DOGE.

Block, previously Square, will allow customers to send BTC gifts via Cash App for the holidays

"It's as simple as transferring cash, and you don't need to own stock or Bitcoin to gift it," according to Cash App, which supports transactions of as little as $1.

Block, formerly known as Square, has revealed that Cash App users will be able to gift bitcoin and stock to friends and family throughout the holiday season.

Cash App stated in a Tuesday Twitter post that its customers, who number about 40 million monthly, could give as little as $1 in Bitcoin (BTC) or stock as a gift in the same way they could transfer money. The payments company joins the likes of PayPal and Coinbase in allowing customers to send bitcoin to third parties as payments or gifts.

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"You can now transmit as low as $1 in stock or BTC using Cash App." You don't need to own stock or bitcoin to give it, and it's as simple as transferring cash. So skip the fragrant candles and colorful beach towels this Christmas season and help your cousin start investing."

According to Cointelegraph, a study by loan business BlockFi found that many Americans would receive cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE) as gifts this holiday season.

However, the same study found that most respondents could not transfer cryptocurrency. Many critics believe that distributing BTC to beginners is one of the reasons why so many coins have gone missing since 2009.

Cardano's ADA price is poised for a 30% rise with a potential’ triple bottom’ situation.

Cardano Displaces Litecoin to become the Third-Largest Crypto in the Market Derivatives Index

As it creates a famous bullish reversal pattern, Cardano (ADA) might climb by roughly 30% in the following days.

The "triple bottom" pattern is characterized by three consecutive lows printed nearly at the same level towards the end of a decline. This means that triple bottoms imply sellers' failure to break below a given support level on three consecutive attempts, allowing buyers to take control.

In a perfect situation, the return of buyers allows the instrument to rebound sharply toward a higher level known as the "neckline," which connects the highs of the two earlier rebounds. The move is followed by another breakout, causing the price to rise by the same amount as the distance between the bottom and neckline of the pattern.

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The time at which the price of ADA began to reverse was accompanied by an increase in trading volume, indicating that the bounce had enough support from buyers. As a result, Cardano's coin appears to be on track to at least reach $1.40.

Furthermore, if the value strongly breaks above the neckline level, it will certainly continue to recover until it reaches $1.63, as predicted by the triple bottom scenario.

Elon Musk’s comment has skyrocketed Dogecoin’s. Do value, do you think the virtual currency will experience more uptrend movement this month?