The Boring Company users can now pay for travel on the Las Vegas Loop public transit system using Dogecoin (DOGE). The new payment solution was launched on Friday at the opening of a new Loop station outside the city of Las Vegas, CNN reports today. However, the impact of the news on the altcoin price was limited.
Dogecoin enters the Loop services, the price of altcoin is reborn
Boring Company’s Loop is a public transit system that transports passengers in Tesla vehicles to their destinations without intermediate stops. These Tesla vehicles are driven at 35 mph, which is much lower than Elon Musk’s fast cars, which travel at 150 mph. However, Musk, the founder of The Boring Company, plans to increase the speed of the vehicles used by the infrastructure company.
The loop rides are free. But he soon makes plans to demand payment from passengers. When the payment for Loop travel finally begins, passengers will pay $ 1.50 for single travel. Day passes will be available for $ 2.50.
It is easy to pay for the transport service. Passengers can purchase cruise tickets by scanning a QR on the wall of the new Resorts World station. Now, people can choose to pay using the largest meme currency or pay for travel using their credit card.
The Boring Company’s support for DOGE had a slight impact on the price of the altcoin. According to data from CoinMarketCap, DOGE is trading at $ 0.06846, up 0.95% on a daily basis. Ranked # 10 by market cap, the altcoin is still in the red zone on a weekly basis. Also, DOGE is a long way from its glory days. Because DOGE is currently down 91% from its high of $ 0.7376.
Elon Musk promotes the adoption of the DOGE
Notably, the initiative is part of the Tesla executive’s efforts to support mainstream adoption of Dogecoin. Musk continued to support Dogecoin in their businesses, including Tesla and SpaceX. The tech giant, meanwhile, recently got approval to buy Twitter. He also announced that DOGE enthusiasts can now purchase products from SpaceX. Musk’s support for DOGE was instrumental in bringing him to the fore after a series of tweets in 2020.
However, Musk’s support of DOGE also causes him problems. A grieved Dogecoin investor said DOGE is a pyramid scheme. For this reason, he filed a $ 258 billion lawsuit against Musk and his company for his involvement in promoting Dogecoin. cryptocurrency.comAs follows, Elon Musk said he didn’t tell anyone to buy DOGE.
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