Elon Musk, CEO of Tesla and SpaceX, has expressed support for incorporating Dogecoin (CRYPTO:DOGE) as a payment option for purchasing Tesla vehicles.

Musk's advocacy for Dogecoin stems from its potential in the financial ecosystem and his desire to democratise digital currency.

His statement, "Dogecoin to the moon," highlights his optimism towards Dogecoin and its accessibility for the average person.

Tesla's consideration of Dogecoin reflects its innovative brand ethos and aims to cater to a diverse and possibly younger consumer base.

Musk's backing of Dogecoin could lead to increased visibility and viability for the cryptocurrency, marking a significant step towards mainstream cryptocurrency adoption.