Dogecoin price skyrockets as Elon Musk promotes DOGE payment for new product

As a result, the price of DOGE skyrockets over 3% from a low of $0.057 to a high of $0.060. The Tesla CEO even changed his Twitter bio to “perfume seller” to promote the new product.

Elon Musk Promotes The Boring Company’s ‘Burnt Hair’ Perfume

In a series of tweets Starting Oct. 12, Tesla CEO Elon Musk is promoting the Burnt Hair fragrance from his tunneling company, The Boring Company. Elon Musk changed his Twitter bio to “perfume sellerto sell the perfume product worth $100 a bottle on Twitter.

Additionally, he said that customers can buy the Burnt Hair perfume with Dogecoins. Showing his commitment to Dogecoin, the CEO of Tesla continues to promote Dogecoin for payments.

Elon Musk announced on Sunday that The Boring Company is launching Burnt Hair fragrance, which will be available in the first quarter of 2023. It is the second product from his Boring Company. Earlier, the company launched the propane-powered Not-A-Flamethrower, with over 20,000 products sold.

As Twitter trolls him, Elon Musk has sold over 10,000 bottles of Burnt Hair perfume for pre-order. However, the Dogecoin community is happy that Elon Musk is pushing the price of DOGE.

Dogecoin (DOGE) Price Soars

The crypto market continues to be under pressure ahead of the US CPI data and the sharp rise in the US Dollar Index (DXY). Bitcoin and Ethereum price continues to move in a sideways trend.

Meanwhile, Dogecoin (DOGE) price skyrockets more than 3% in one day amid Elon Musk’s perfume promotion. The volume of transactions is stable and indicates a lack of interest from traders. The 24-hour low and high are $0.059 and $0.060 respectively.

Additionally, Elon Musk hired DOGE for Twitter after agreeing to complete the $44 billion Twitter buyout at $54.20 per share. However, the issue surrounding the withdrawal of Apollo Global Management and Sixth Street Partners from financing the deal has raised some concerns. However, he said those companies never participated in financing the deal.

About Matthew R. Dailey

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