The Boring Company to Accept Dogecoin Payments for Loop Rides
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Loop is one of the transport company’s projects, which is also called “Teslas in Tunnels.” According to the official website, Loop is “an express public transportation system that resembles an underground highway more than a subway system.” The website also details that the entire system is electric with zero emissions.
Musk responded to a post from a Twitter user reporting the Loop news by tweeting, “Supporting Doge whenever possible.”
The world’s richest man has been an unflinching supporter of Dogecoin as he believes the meme token has significant potential as a currency. Already, Musk’s electric vehicle manufacturing company, Tesla, accepts DOGE as payment for some merchandise. Also, the serial entrepreneur announced in May that SpaceX would start accepting DOGE soon and that Starlink subscription will be payable in Dogecoin. He also hinted at the possibility of Twitter integrating DOGE and crypto payments if his takeover bid of the platform succeeds.
Last month, Musk, Tesla, and SpaceX got slammed with a $258 billion lawsuit for allegedly engaging in a pyramid scheme through their promotion of Dogecoin. This lawsuit has not deterred the multibillionaire from preaching his support for DOGE.
Key Dogecoin Levels to Watch — July 8
After maintaining a sideways pattern below the $0.0700 mark since the start of July, Dogecoin finally climbed above the psychological mark overnight, reaching a monthly high of $0.7330. This bullish push comes after a goodish rebound across risky assets, with Bitcoin tapping the $22,485 top—a three-week peak.
That said, DOGE should continue in a sideways pattern around the $0.0700 mark over the coming days as traders await additional clues on market direction. Many analysts believe that the worst of the bear market might be over, putting $0.1000 on the cards.
Meanwhile, my resistance levels are $0.0800, $0.0900, and $0.1000, and my support levels are $0.0600, $0.0500, and $0.0400.
Total Market Capitalization: $948.8 billion
Dogecoin Market Capitalization: $9.21 billion
Dogecoin Dominance: 0.97%
Market Rank: #10
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