Dogecoin keeps seeing growing adoption because of Elon Musk
Boring Company, Elon Musk’s infrastructure and tunnel construction services company, has enabled support for Dogecoin payments, according to a recent report by CNN.
Riders simply have to scan a QR code in order to purchase a ticket. For now, people are able to take a ride on Loop for free, but the company plans to charge fees in the future.
Those who are not into Dogecoin are free to choose alternative payment methods.
More than 50 stations are expected to be constructed as part of a massive tunnel network that is located underneath Las Vegas. The Clark County Commission approve the ambitious expansion plan last year.
As reported by U.Today, Musk drew a comparison between Dogecoin and Boring Company to highlight their frivolousness back in 2020. Despite being created as a joke, the meme coin has managed to become highly successful (the same applies to Boring Company).
Back in May, the billionaire announced that SpaceX would start accepting Dogecoin for merch together with Tesla.
The largest meme coin continues to see growing adoption in spite of a sharp price downturn. The meme coin is down as much as 90.69% from its record high, according to data provided by CoinGecko.
“Support Doge wherever possible,” Musk tweeted.
Last month, the richest person on the planet revealed that he was buying more DOGE, giving the price of the meme coin a temporary boost.
However, the Boring Company news has failed to prop up Dogecoin even for a short period of time. The largest meme cryptocurrency is up a mere 2% over the last 24 hours, CoinGecko data shows.