As Tesla CEO Elon Musk was recently appointed by Trump to head the Department of Government Efficiency (DOGE), and since the department's abbreviation is the same as Dogecoin (DOGE), this has brought significant attention and exposure to Dogecoin, driving its price sharply upward.
Boring Company supports Dogecoin payments
And just today at noon, Dogecoin and MyDoge wallet UX/UI designer DogeDesigner, who has been frequently interacting with Musk on the X platform, published a tweet about a use case for Dogecoin. In just four hours, this tweet attracted over 140,000 views and 778 retweets, potentially laying the foundation for Dogecoin's strong performance today. He stated:
Musk's Boring Company accepts Dogecoin payments; you can book a ride and pay with Doge.
This post has sparked enthusiastic responses, with many netizens commenting: 'Doge will soon rule the world,' 'Doge to the moon,' fully demonstrating the community's strong support for Dogecoin.
Note: Boring Company is a tunnel excavation and infrastructure development company founded by Musk, dedicated to solving urban traffic congestion through the construction of underground tunnel systems. The company's core project, Loop, is similar to an underground high-speed transport system, operated using Tesla vehicles, hence described as 'Tesla in a tunnel.' The Vegas Loop, built at a cost of about $47.5 million, officially opened in mid-2021 at the Las Vegas Convention Center, with plans to expand to the airport, downtown, and other important locations.
Dogecoin instant surge
As soon as this tweet was released, Dogecoin immediately surged from $0.428 to $0.48, with an increase of 12% within 45 minutes, reaching a new high since May 2021. Although the price has since retreated, it currently stands at $0.4549, but has still risen over 15.71% in the last 24 hours.
Boring Company announced in mid-2022 that it would accept Dogecoin.
However, in reality, this is not new news. Because as early as mid-July 2022, Boring Company announced that it would accept Dogecoin as a payment option for passengers using the Vegas Loop system in the future. At that time, the statement indicated that passengers could scan to purchase tickets at the 'Resorts World' station and choose to pay with Dogecoin, credit cards, or US dollars.
According to Boring Company's official website, Vegas Loop currently has four routes, with stops including Harry Reid International Airport, Las Vegas Convention Center (LVCC), Allegiant Stadium, and downtown Las Vegas. Depending on the distance, ticket prices range from $5 to $12.
