Billionaire Elon Musk has been a long-time supporter of Dogecoin and that has shone by within the ways in which he has applied DOGE funds into the merchandise that his firm makes. The meme coin which he says is his favourite has been used to pay for varied issues within the firms which Musk leads. Now, the SpaceX CEO has added one other product that may be paid for in DOGE to the lineup.
New Perfume For Dogecoin
On Wednesday, Musk took to Twitter to announce that his Boring firm can be launching its personal fragrance line. Burnt Hair is available in a pink bottle and is meant to scent such as you leaned “over a candle on the dinner desk, however with out all of the arduous work.”
The perfume which looks as if a gimmick is definitely an actual product and the billionaire introduced that consumers can even pay for it utilizing Dogecoin. At $100 a pop, it might translate to round 1,655 DOGE at present costs.
The best perfume on Earth!https://t.co/ohjWxNX5ZC pic.twitter.com/0J1lmREOBS
— Elon Musk (@elonmusk) October 11, 2022
Burnt Hair follows one other product known as ‘Not A Flamethrower’ that was developed by the Boring Firm. This product additionally accepted cost in DOGE and bought 20,000 items after launch. Hearth extinguishers are bought individually, in fact.
In a follow-up tweet, Elon Musk announced that 10,000 bottles of Burnt Hair had already been bought, which interprets to $1 million in gross sales simply hours after it was introduced. The perfumes will probably be shipped out to consumers in Q1 of 2023.
Giving DOGE Utility
Dogecoin’s run as a meme coin has been an unbelievable journey however like every digital asset within the area, traders had begun to bemoan the shortage of utility of the cryptocurrency. This had led to varied efforts to present the asset some real-world use instances and it had naturally fallen into funds resulting from its low gasoline charges which makes it good for small and huge transactions.
DOGE trending at $0.06 | Supply: DOGEUSD on TradingView.com
Musk had first made the transfer to make use of DOGE as a mode of cost in Tesla for some merchandise. This had then moved to different firms resembling occurring the Boring Firm’s Vegas loop and the SpaceX moon mission accepting cost in DOGE.
Nevertheless, all of those haven’t helped to prop up the value of the digital asset. Dogecoin’s value is presently down greater than 91% because it hit its all-time excessive again in mid-2021. This decline in value triggered a lawsuit the place Elon Musk is being sued for $258 billion because the plaintiffs allege the Tesla CEO was working a pyramid scheme utilizing Dogecoin.
Featured picture from Outlook India, chart from TradingView.com
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