DOGE-Sponsored Car Crashes And So Does The Coin’s Price

DOGE-sponsored car has crashed yesterday on the NASCAR racing, and right after that the price of the coin crashed as well so let’s read more in our latest Dogecoin news today.

Dogecoin returned to NASCAR after a few years and things didn’t go as planned as the DOGE-sponsored car driven by Stefan Parsons crashed. DOGE holders led by Springates CEO Sean Taylor and racer Stefan Parsons also experienced the crash of the coin after yesterday’s events. The Chevrolet Camaro crashed into the wallet and finished the race in the last place leaving the DOGE holders disappointed.

In 2014, DOGE holders coordinated off Reddit to sponsor NASCAR driver Josh Wise after donating $55,000 worth of coins. Stefan Parsons’ father Phil Parsons also raced in the same team as Wise and finished 20^th. Right after the crash, DOGE got down by 9.6% to $0.26 in the past 24 hours and the coin is now the seventh-biggest cryptocurrency with a market cap of $34.8 billion as per the data from Nomics. Dogecoin was listed on Coinbase earlier this month and the US exchange even gave $1.2 million in DOGE to celebrate the listing.
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The crypto’s price didn’t experience a temporary Coinbase high other than the listings which it benefited from slightly but then held steady and started bottoming out.

Before that, Doge enjoyed a price increase thanks to Elon Musk’s tweets. It even jumped 15% to $0.69 when Musk announced he will perform in a skit on SNL about Dogecoin. In the week leading to the event, Dogecoin hit an ATH of $0.74 but it crashed almost immediately after the SNL performance. For Dogecoin, another symbolic date approached which was Musk’s birthday as one mysterious wallet that held $2.8 billion of the coin placed 20 transactions fo DOGE which marked the numeric equivalent of Elon Musk’s birth date of 28 June 1971.

Musk has never admitted to investing in Dogecoin but the day after the mysterious purchase, he tweeted that he purchased some coins for his son. Early next year, SpaceX will launch a DOGE-1 Mission to the Moon and will mark the first-ever commercial space mission that will be paid in crypto. Many believed that this was just a joke but SpaceX will put a literal dogecoin on the literal moon. However, unlike the DOGE car, the damages of a rocket exploding and crashing will be much more severe.