DOGE dumps as Dogecoin-sponsored 'Dogecar' crashes in NASCAR

A Dogecoin-sponsored race car hit a wall in spectacular fashion over the weekend as DOGE fared much the same in the markets.

DOGE dumps as Dogecoin-sponsored 'Dogecar' crashes in NASCAR

Saturday’s National Association for Stock Car Auto Racing (NASCAR) Xfinity Series Race in Nashville ended in disaster for the Dogecoin sponsored car, with the DOGE-emblazoned Chevrolet Camaro driven by Stefan Parsons smashing into the wall in lap 70.

The DOGE proponents have been excited for the race, with the #dogecar hashtag trending on Twitter in the lead-up to the June 19 event. Photos of the number 99 race car featuring the iconic Shiba Inu plastered across the vehicle’s hood were shared with gusto.

As a result of the accident, the Dogecar finished the event in the last place. Despite the loss, Dogecoin’s supporters were grateful for the coverage.

Besides, DOGE has not performed so well in the market either, dumping 14% over the weekend in a fall from roughly $0.30 to a Sunday low of nearly $0.26. Currently, DOGE is down 13% over 24 hours trading around $0.22, according to data from CoinMarketCap.

Saturday’s race was not the first time Dogecoin’s famed cartoon pooch has found its way onto the hood of a NASCAR vehicle, with driver Josh Wise raising $55,000 in DOGE donations on Reddit to fund his entrance in 2014. When Josh Wise ran the scheme, he was driving the Number 98 car for Phil Parsons Racing.

Read: German taxi company with only Tesla cars allowing DOGE payments

The sponsorship deal for the dogecar was announced in early March by BJ McLeod Motorsports. Driver Stefan Parsons, whose father owned the racing team for the first Doge sponsored race car back in 2014, stated:

“Having the opportunity to run a scheme that has an incredible story from my Dad’s race team is something I am so proud to do.”