- DOGE Price at the time of writing – $0.05719
- Burnt Hair follows another product called ‘Not A Flamethrower’
- This product also accepted payment in DOGE
Elon Musk, a billionaire, has been a long-time advocate of Dogecoin, and this has been evident in the ways in which he has incorporated DOGE payments into the goods that his company sells.
In the businesses Musk runs, the meme coin he describes as his favorite has been used to pay for a variety of purchases. The CEO of SpaceX has now included yet another product in the lineup that can be purchased using DOGE.
Not A Flamethrower sold 20,000 pieces after launch.
Musk announced on Twitter on Wednesday that his Boring company would launch its own perfume line. Burnt Hair is said to smell like you leaned over a candle at the dinner table, but without all the hard work. It comes in a red bottle.
The billionaire announced that interested buyers can also purchase the fragrance using Dogecoin, despite the fragrance’s appearance being a hoax. At current prices, it would amount to approximately 1,655 DOGE at $100 per piece.
Burnt Hair comes after another product from the Boring Company, Not A Flamethrower. In addition, this product accepted DOGE as payment, and shortly after its launch, it sold 20,000 units.
Naturally, fire extinguishers can be purchased separately. Elon Musk followed up with a tweet a few hours later announcing that 10,000 bottles of Burnt Hair had already been sold, resulting in $1 million in sales. In the first quarter of 2023, the perfumes will be sent to customers.
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Dogecoin’s price is currently down more than 91%
DOGE Utility Dogecoin’s rise to prominence as a meme coin has been an incredible journey, but investors have begun to lament the cryptocurrency’s lack of utility, as with any digital asset in the market.
Its low gas costs, which make it ideal for both small and large transactions, this had prompted a number of efforts to demonstrate the asset’s real-world applications.
Musk had initiated the decision to accept DOGE as a form of payment for some Tesla merchandise.
After that, this had spread to other businesses, such as participating in the Boring Company’s Vegas loop and the SpaceX moon mission, both of which accepted DOGE as payment.
However, none of these have contributed to stabilizing the digital asset’s price. Since reaching its all-time high in the middle of 2021, the price of Dogecoin has fallen by more than 91 percent.
This drop in value sparked a lawsuit against Tesla CEO Elon Musk for $258 billion. The plaintiffs claim that Musk was using Dogecoin to run a pyramid scheme.