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Dogecoin Car Crashes: Causes Dogecoin To Fall In Price?

A Dogecoin-themed NASCAR crashed into a wall over the weekend as Doge seemed to channel the same energy as the price also has dropped considerably in price.

The NASCAR (or National Association for Stock Car Auto Racing) Xfinity Series Race held in Nashville resulted in a catastrophe for the Dogecoin-funded car. The car was a DOGE-bedizened Chevrolet Camaro with Stefan Parsons as its driver. The car smashed into the wall while attempting to complete the 70th lap.

The devoted fans of the joke-originated cryptocurrency had been excited about the race. The “dogecar” hashtag had been constantly trending on Twitter leading up to the event that took place on the 19th of June. Pictures of the race car numbered 99 donning the Shiba Inu across its hood were shared enthusiastically.

As an outcome of the accident, the Dogecar ended up finishing last at the event. However, despite the loss, Dogecoin fans were appreciative of the coverage.

The cryptocurrency itself has not been doing particularly well either, falling by 14 per by the weekend, falling from around 0.30 USD to a low of around 0.26 on Sunday. Digital currency has lost 30 per cent over the past two weeks. It is, as of now, down 64 per cent from its peak high of 0.73 USD experienced on May 8.

Saturday’s race event was not the only time Dogecoin’s mascot has found itself embedded on the hood of a NASCAR car. In 2014, driver Josh Wise had raised 55K USD in DOGE contributions on Reddit to finance his entrance.

The sponsorship contract for the car that raced this weekend had been announced by BJ McLeod Motorsports at the beginning of March. The race car driver, Stefan Parsons, whose father was the owner of the racing team for the first-ever Doge funded race car in 2014, stated that he was proud to have had the opportunity to run a scheme with impressive history (from his father’s race team).

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