Dogecoin Adds $1 Billion To Its Market Cap Folllowing Elon Musk’s ‘Boring Company’ Announcement
2022年7月8日 - 06:00AM
NEWSBTC
Following Elon Musk’s Boring Company’s announcement, it now allows
consumers to pay using Dogecoin. As a result, DOGE has increased by
5% during the past day. But after that, it decreased by over 2%.
However, it had a market value increase of almost $1 billion during
the past 24 hours. With a market cap of $10.484 billion, DOGE
overtook Polkadot and other currencies to rank as the tenth-largest
cryptocurrency. According to CoinGecko statistics, DOGE increased
by around 13% during the course of the past seven days. The price
is $0.07034 at the moment. Related Reading | Sandbox (SAND)
Having A Blast With 12% Spike In 24 Hours The flood of negative
crypto news was more minor today compared to most days over the
previous six weeks. The crypto sector is still plagued by
uncertainty and anxiety, though. Data from CoinMarketCap indicate
that with a rise of about 2% over the last 24 hours, the global
cryptocurrency market capitalization was trading higher at $930.89
billion. However, the overall volume of the cryptocurrency trade
fell by approximately 18% to $53.35 billion. Pay With Dogecoin For
A Ride: Elon Musk’s Boring Company Announcement According to CNN on
Wednesday, the Boring Company has made it possible for users to use
DOGE to pay for rides in its recently launched Vegas Loop. The Loop
is a transportation system where Tesla car drivers ferry people
through a tunnel beneath Las Vegas. The first Loop station, which
debuted last Friday, is located outside the Las Vegas Convention
Center, but the business intends to build a 29-mile network of
tunnels under the city with 50 stations in all. Although the
corporation has not provided a precise date, rides on Loop are
presently free. However, charges are ultimately planned. The Vegas
Loop’s website states that single rides will cost $1.50, and day
passes will cost $2.50. The choice to offer DOGE as a payment
option was made simultaneously as the Boring Company decided to
construct a Loop station at the Las Vegas Convention Center.
Related Reading | Bitcoin Will Rebound In 2nd Half Of 2022,
Says Bloomberg Analyst Even though a $258 billion lawsuit has been
filed against Elon Musk and two of his companies, Tesla and SpaceX,
he still chose DOGE. The billionaire was sued by a citizen of
the United States for allegedly promoting Dogecoin. According to
the lawsuit, Musk is accused of participating in a racketeering
plot to support cryptocurrencies. To his more than 100 million
followers, he has already shared a number of Dogecoin memes. The
adoption of DOGE as a payment method for rides by The Boring
Company is one of several antics. Musk earlier said that he is
unconcerned by the current market circumstances and would keep
building up his Dogecoin holdings. Featured image from Flickr,
chart from Tradingview.com
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