Elon Musk's Loop Tunnels Have Started Accepting Dogecoin Fare

Posted 08 July, 2022

Elon Musk's Loop tunnel transportation network in Las Vegas has started accepting payments for Dogecoin trips, according to CNBC. The Boring Company, a tunnel construction company, introduced a new payment method the day after the opening of the fourth station.

The Loop transport system according to the project should expand to more than 50 stations. To buy a ticket, passengers will be able to scan a QR code at the station, one trip will cost 1.5 USD, and day passes - 2.5 USD, the article says.

Trips through the tunnel system are made by Tesla cars at a speed of about 56 km/h, which is much slower than planned by the company's founder Elon Musk. According to his plan, the speed of movement could be about 240 km/h. The Boring Company is considering increasing the speed in the future.

On June 7, the value of Dogecoin (DOGE) fluctuates around 0.068 USD, during the day the price of the coin increased by 1.1%. In May 2021, the token reached a maximum rate of 0.73 USD. This year, Dogecoin, like all cryptocurrencies, showed a significant decline: only in the first half of the year, the price of the coin fell by 59%.

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