HomeCryptoAltcoinDogecoin at Nascar, but the car crashes

Dogecoin at Nascar, but the car crashes

Even Dogecoin had its own branded car that competed in an official race, except it crashed.

The competition was Nascar, staged in the United States last Saturday. The driver of the Dogecoin-branded car evidently lost control of the vehicle, ran off the track and crashed into the barriers.

The tweet posted by the competition organisers underneath the footage showing the crash was unusual:

In fact, Elon Musk has been one of the biggest promoters of Dogecoin, contributing with his tweets to the vertical rise in its price.

The car and the price of Dogecoin

The crash of the Dogecoin-branded car does in a way also represent the difficulties DOGE is going through.

In the midst of the hype, Dogecoin went from being worth $0.003 to 70 cents. However, after the all-time high reached on 8 May, the course of Dogecoin’s price reversed. Dogecoin has more than halved in value: it is now worth 25 cents, with a noteworthy annual growth rate.

The announcement of the partnership that allowed Dogecoin’s car to race in the Nascar race was made last March 2021, in full hype.

Driving the BJ McLeod Motorsports Chevrolet was Stefan Parsons.

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

Springrates CEO Sean Taylor explained:

“Lately, I have been obsessed with learning more about blockchain and the future of decentralized currency. I had the idea of including Dogecoin on the car for this race while chatting with Stefan following the season opener in Daytona. It was ironic because at the time, I wasn’t aware his dad’s team previously ran the Dogecoin car in 2014. Maybe it was fate”.

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

Eleonora Spagnolo
Eleonora Spagnolo
Journalist passionate about the web and the digital world. She graduated with honours in Multimedia Publishing at the University La Sapienza in Rome and completed a master's degree in Web and Social Media Marketing.