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November 27, 2022
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Dogecoin appears in Nascar, but car ends up on the wall

Things aren’t going well for DOGE’s ‘little dog’

Dogecoin had its own stamped car that competed in an official Nascar race. The downside is his race end was on the wall. The Nascar race was held in the United States last Saturday. The driver of the car bearing Dogecoin lost control of the vehicle, ran off the road and hit the wall.

The tweet posted by the competition organizers (below) shows the timing of the crash:

Elon Musk, who has been one of the Dogecoin’s biggest promoters, contributing their tweets to the vertical increase in their price, was mentioned “with regret” by Nascar in the post.

“I’m sorry you have to see this @elonmusk”

Dogecoin’s car and price

The car crash that stamped Dogecoin also represents, in a way, the difficulties that DOGE is going through.

Amid the hype, Dogecoin went from being worth $0.003 to 70 cents. However, after the all-time high reached on May 8th, Dogecoin’s price course reversed. The value of Dogecoin dramatically: now each DOGE is worth 25 cents, still with a remarkable annual growth rate.

The announcement of the partnership that allowed the Dogecoin car to race at Nascar was made in March 2021, in the midst of high agitation.

Driving the Chevrolet BJ McLeod Motorsports was Stefan Parsons.

But in reality, Dogecoin debuted in cars in 2014, when it was far from its current fame.

Springrates CEO Sean Taylor explained:

“Lately, I’ve been obsessed with learning more about blockchain and the future of decentralized currency. I came up with the idea to include Dogecoin in the car for this race while talking to Stefan after the season opener in Daytona. It was ironic because, at the time, I didn’t know that your father’s team previously drove the Dogecoin car in 2014. Maybe it was fate.”

This time it didn’t go so well. The fans’ hope is that DOGE can find its way back to new high records.

Source: cryptonomist

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