Dogecoin is growing in relevance in the crypto market, mainly with Elon Musk’s constant support. Recently, the influential celebrity businessman announced that his The Boring Company will now accept meme coins for rides on Loop. Loop is a transit system in Las Vegas which enables passengers to take a ride in Tesla Vehicles which humans drive at a speed of 35mph. The Boring Company plans to make the vehicle run automatically in the future.
For a considerable point in time, Dogecoin lost a significant amount of market share. However, the coin is again back in its former glory. After the company opened the first loop station outside Las Vegas Convention Center, news of DOGE being used for payment is seeking a lot of attention. The crypto community treats the announcement as Musk’s yet another strategy to promote meme coins.
Musk’s The Boring Company is determined to expand the Loop to almost 50 stations, including the home of NFL’s Las Vegas Raiders, casinos and Allegiant stadium. Last year Clark County, Nevada, approved an expansion plan.
Currently, rides are free though there are plans to charge shortly. If we visit the Vegas Loop’s website, we can find information related to the ride charges mentioned. People can buy day passes at $2.50, and if you wish to take a single ride, it will cost you a minimum of $1.50. Well, it’s only available on the website; however, no specific time is announced regarding the ride’s charges.
For purchasing tickets, passengers are required to scan large QR codes on a wall at the station. If an individual doesn’t have Dogecoin, they can pay with US dollars or a credit card.
The Boring Company has found a way to dig tunnels more quickly and cheaply than other tunnelling companies. The company’s method could cut tunnelling costs by as much as $1 billion per mile. The company is also working on projects in Florida and Texas.