Billionaire Elon Musk has been a long-time supporter of Dogecoin and that has shone via within the ways in which he has carried out DOGE funds into the merchandise that his firm makes. The meme coin which he says is his favourite has been used to pay for numerous issues within the corporations 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 could be launching its personal fragrance line. Burnt Hair is available in a pink bottle and is meant to odor such as you leaned “over a candle on the dinner desk, however with out all of the laborious work.”
The perfume which looks like a gimmick is definitely an actual product and the billionaire introduced that consumers may also pay for it utilizing Dogecoin. At $100 a pop, it could 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 referred to as ‘Not A Flamethrower’ that was developed by the Boring Firm. This product additionally accepted cost in DOGE and offered 20,000 items after launch. Hearth extinguishers are offered individually, in fact.
In a follow-up tweet, Elon Musk introduced that 10,000 bottles of Burnt Hair had already been offered, which interprets to $1 million in gross sales simply hours after it was introduced. The perfumes can be shipped out to consumers in Q1 of 2023.
Giving DOGE Utility
Dogecoin’s run as a meme coin has been an unimaginable journey however like several digital asset within the area, buyers had begun to bemoan the dearth of utility of the cryptocurrency. This had led to varied efforts to provide the asset some real-world use circumstances and it had naturally fallen into funds attributable to its low fuel charges which makes it excellent for small and enormous 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 corporations akin to happening 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 at the moment 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 operating a pyramid scheme utilizing Dogecoin.
Featured picture from Outlook India, chart from TradingView.com
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