Dogecoin Price Soars As Elon Musk Promotes DOGE Payment For New Product

Elon Musk on Wednesday announces The Boring Company’s Burnt Hair perfume will accept Dogecoin (DOGE) as payment. As a result, the DOGE price soars over 3%, from a low of $0.057 to hit a high of $0.060. Tesla’s CEO even changed his Twitter bio to “Perfume Salesman” to promote the new product.

Elon Musk Promotes Boring Company’s Burnt Hair Perfume

Tesla CEO Elon Musk in a series of tweets on October 12 promotes his tunnel construction firm The Boring Company’s Burnt Hair perfume. Elon Musk changed his Twitter bio to “Perfume Salesman” to sell the perfume product worth $100 a bottle on Twitter.

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

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

While the crypto Twitter trolls him, Elon Musk has sold over 10,000 bottles of Burnt Hair perfume in pre-order. However, the Dogecoin community is happy with Elon Musk pumping memecoin DOGE price.

Dogecoin (DOGE) Price Soars

The crypto market continues to be under pressure ahead of the U.S. CPI data and the high rising U.S. dollar index (DXY). Bitcoin and Ethereum price continues to move in a sideways trend.

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

Moreover, Elon Musk committed DOGE for Twitter after he agreed to proceed with the $44 billion buyout of Twitter at $54.20 per share. However, the drama surrounding Apollo Global Management and Sixth Street Partners backing out of financing the deal raised some concerns. However, he said the firms never participated in financing the deal.