2021-6-21 11:08 |
Dogecoin, the popular meme cryptocurrency that saw a massive price surge earlier this year, crashed strongly over the weekend. The coin saw a major price drop right after a DOGE-sponsored race car hit a wall during Saturday’s NASCAR (National Association for Stock Car Auto Racing) Xfinity Series Race, held in Nashville.
The #dogecar has crashed. 😢
TV: NBCSN pic.twitter.com/eCb1PosOI3
The car was a Chevrolet Camaro donned in DOGE brand, and it was driven by Stefan Parsons, who ended up smashing it into the wall on lap 70.
The race was long-awaited by the DOGE community, which even managed to get #dogecar a trending hashtag on Twitter. The community enthusiastically shared the photos of the car that had Dogecoin’s symbol — the well-known Shiba Inu — all over the vehicle.
Unfortunately, the car then ended up in an extremely memorable accident that had it finish the event in the last place, and by crossing the finish line sideways. Obviously, the loss hit the community hard, but the way the race ended definitely brought massive amounts of coverage for DOGE and its community, which is still pleased that the circumstances of the crash attracted so much attention.
DOGE price drops following its second appearance in NASCARDespite the extra coverage, DOGE/USD price did not perform that well. In fact, the coin saw a 14% drop over the weekend, going from $0.30 to $0.26. With this new drop, DOGE is currently 30% lower than it was two weeks ago, and as much as 64% below the ATH ($0.73) that it reached about 44 days ago, on May 8th.
Interestingly enough, this is not the first time that DOGE has been featured on a NASCAR vehicle. Previously, it found its way to the race back in 2014, only a year after it was created. Back then, the car was driven by Josh Wise, who raised $55,000 in DOGE donations on Reddit, in order to fund his entrance into the race.
Back then, Wise was driving the Number 98 car for Phil Parsons Racing. Now, seven years later, DOGE ended up on the number 99 with Stefan Parsons, whose father owned the team for the first DOGE-sponsored race car.
The post DOGE-themed race car crashes, Dogecoin responds by doing the same appeared first on Invezz.
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