The Price Of Dogecoin Has Risen As Elon Musk Promotes DOGE Payment For New Products

On Wednesday, Elon Musk announced that The Boring Company’s Burnt Hair scent will accept Dogecoin (DOGE) as payment. As a result, the DOGE price rises by more than 3%, from $0.057 to $0.060. To promote the new product, Tesla’s CEO even altered his Twitter bio to “Perfume Salesman.”

 

Boring Company’s Burnt Hair Perfume is promoted by Elon Musk

Tesla CEO Elon Musk advertises his tunnel construction startup The Boring Company’s Burnt Hair cologne in a series of tweets on October 12. Elon Musk altered his Twitter bio to “Perfume Salesman” in order to market the $100-per-bottle perfume product on Twitter.

 

Furthermore, he stated that people can purchase the Burnt Hair scent with Dogecoin. Tesla CEO continues to support Dogecoin for payments, demonstrating his dedication to the cryptocurrency.

Elon Musk said on Sunday that The Boring Company will release the Burnt Hair scent in the first quarter of 2023. It is his Boring Company’s second product. Previously, the company released the “Not-A-Flamethrower” propane-powered flamethrower, which has sold over 20,000 units.

While the crypto Twitter trolls him, Elon Musk has sold over 10,000 pre-orders for his Burnt Hair cologne. The Dogecoin community, on the other hand, is pleased with Elon Musk’s decision to boost the memecoin DOGE price.

 

Dogecoin (DOGE) Value Increases

The crypto market remains under pressure ahead of the US CPI report and the rapidly climbing US dollar index (DXY). The price of Bitcoin and Ethereum remains in a horizontal pattern.

Meanwhile, Dogecoin’s (DOGE) price has risen by more than 3% in a single day as a result of Elon Musk’s perfume advertising. The trading volume is flat, indicating that traders are uninterested. The low and high for the day are $0.059 and $0.060, respectively.

Furthermore, Elon Musk pledged DOGE for Twitter after agreeing to proceed with a $44 billion buyout at $54.20 per share. However, the turmoil surrounding Apollo Global Management and Sixth Street Partners’ refusal to fund the transaction prompted some concerns. However, he stated that the firms were never involved in funding the transaction.

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