Dogecoin price soars as Elon Musk promotes DOGE payment for new product

As a result, the price of DOGE soars more than 3% from a low of $0.057 to a high of $0.060. Tesla’s CEO even changed his Twitter bio to “perfume salesman” to promote the new product.

Elon Musk promotes the Boring Company’s “Burnt Hair” perfume

In a series of tweets from October 12, Tesla CEO Elon Musk promotes the Burnt Hair fragrance from his tunnel-building company, The Boring Company. Elon Musk changed his Twitter bio to “perfume salesman” to sell the perfume product worth $100 a bottle on Twitter.

And you can pay with Doge!

– Elon Musk (@elonmusk) October 11, 2022

In addition, he stated that customers could purchase Burnt Hair perfume with Dogecoins. Showing his commitment to Dogecoin, the Tesla CEO continues to promote Dogecoin for payments.

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

While Twitter trolls him, Elon Musk has sold more than 10,000 bottles of Burnt Hair perfume for pre-order. However, the Dogecoin community is happy that Elon Musk is pushing the price of DOGE.

Dogecoin (DOGE) price soars

The crypto market continues to be under pressure ahead of the US CPI data and the sharp rise in the US Dollar Index (DXY). The price of bitcoin and Ethereum continues to move in a sideways trend.

Meanwhile, the price of Dogecoin (DOGE) is soaring more than 3% in one day amidst Elon Musk’s perfume promotion. 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.

In addition, Elon Musk hired the DOGE for Twitter after agreeing to complete the $44 billion buyout of Twitter at $54.20 per share. However, the issue surrounding the withdrawal of Apollo Global Management and Sixth Street Partners from the financing of the deal has raised some concerns. However, he said those firms never participated in the financing of the deal.