Elon Musk firm The Boring Company (TBC) has started allowing customers to pay for trips on the Las Vegas transit system Loop using Dogecoin (DOGE). In his most recent comments on this topic, Musk reiterated his support for DOGE. Here are the details…
Elon Musk shares DOGE support
As we have also reported as Kriptokoin.com, Elon Musk’s company TBC supports Loop payments with DOGE. Responding to the CNN article about the announcement, Elon Musk tweeted that he supports DOGE wherever possible. Elon Musk’s open support for Dogecoin began when he tweeted on April 2, 2019 that Dogecoin could become his favorite cryptocurrency.
The Boring Company has not officially confirmed the new payment method. However, Elon Musk confirmed this with his response, “We support Doge wherever possible.” Despite Musk’s support for the meme coin, DOGE came in at a price of $0.06924. It experienced a modest increase of only 3 percent. However, even this increase was short lived. Because the price has dropped to $0.06818 in the last 24 hours.
Musk’s tweets about DOGE often led to a sharp increase in price. Remarkably, the price of Dogecoin rose 11 percent when Musk’s Tesla announced that it would accept DOGE as payment for Tesla products. Similarly, Doge’s price surged 7% when Musk announced that he would not sell Bitcoin, Ethereum, and Doge holdings despite high inflation. Most recently, Doge’s price jumped 27 percent when the Twitter board announced that they would accept Musk’s Twitter ownership deal.
DOGE can be used in loop stations
The new Loop station is located under an integrated resort called Resorts World Las Vegas. The fourth stop on the 1.7-mile Las Vegas Convention Center Loop. Using the underground tunnel system, vehicles can drive human-guided Tesla electric vehicles from one stop to the next. It is far from the original plans for the Vegas “hyperloop,” which would use magnetic friction to propel passenger-carrying capsules at high speed through a pressurized tunnel system.
The company is still working to implement autonomous vehicles into the Vegas transportation system in the future. At the time of writing, DOGE is changing hands at $0.0688, up 1.5 percent. The cryptocurrency has experienced a 1.1 percent drop over the past 7 days. DOGE is the 10th largest cryptocurrency by market cap. This makes DOGE the biggest meme coin. We can show SHIB as the biggest meme coin after DOGE.
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