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Doge crypto is slowly gaining acceptance


Doge crypto is slowly gaining acceptance


Dogecoin (DOGE-USD) has fallen more than 12% so far this year. DOGE cryptocurrency finished 2021 at 17.19 cents per token, but as of Feb. 10, it was trading at 15.1 cents per token. However, this comes after it rebounded from a low of 12.85 cents on Jan. 22.


So, Dogecoin is rising from a recent low following a four-month decline from its latest top price of 30 cents on Oct. 27. It's been reduced by half, from 30 cents to 15 cents.


However, bitcoin may finally be gaining traction, or so its supporters hope.


Significant Merchants Starting to Accept Dogecoin


According to Elon Musk's tweet, Tesla (NASDAQ:TSLA) will begin accepting Dogecoin for certain items in its online store on January 14, 2022. The corporation even has a page on its website with instructions on how to proceed with Doge crypto payments.


Purchases with Dogecoin, for example, must be completed within a particular time window once the transaction has begun. It may potentially take up to six hours for the payment to be confirmed.


According to Bloomberg, Billy Markus, a co-founder of Dogecoin, posted an image of a Dogecoin present at the Tesla store. It's a Cyberwhistle in the shape of a Cybertruck, and it costs 300 Dogecoin.


AMC Entertainment (NYSE:AMC) will also soon begin taking Dogecoin for some of its online store items. According to CEO Adam Aron, the mechanism to enable this will be operational by the end of Q1 2022.


Shiba Inu (SHIB-USD) and Dogecoin will also be accepted by the world's largest theater chain. In a recent tweet, he stated that the purchasing capability on the website and app store will most likely be enabled in March.


Sofi Learn has a list of four other prominent retailers that accept Dogecoin. The Dallas Mavericks and AirBaltic are two examples (a European airline). It also comprises Newegg (NASDAQ:NEGG), an online electronics retailer, and The Kessler Collection (a luxury hotel chain). There are additional sites providing company lists, such as this one at Dogecoins.com, but none of them have been independently confirmed.


Dogecoin Foundation Slowly Getting Off the Ground


On January 22, the newly founded Dogecoin Foundation, which claims to be a sponsoring organization for Doge Coin, had an initial video chat.


In August 2021 Decrypt.co online magazine reported that the Foundation headquarters was to be re-established in Liechtenstein. So far there is no follow-up report on whether that had been implemented. Liechtenstein is seen as a much more crypto-friendly state than the U.S., where the Foundation had originally been set up.


Moreover, Elon Musk had been seen as instrumental through several of his “representatives” being on the Foundation board.


Where This Leaves Doge Crypto Now


When a number of large and new retailers, such as Tesla and AMC, reach a tipping point, Dogecoin may take off as a genuine digital means of payment. Meanwhile, big businesspeople such as Mark Cuban, Elon Musk, and Adam Aron are also lobbying for their enterprises to accept Doge cryptocurrency.


At some time, a tipping point may be achieved where shops will accept Dogecoin alongside other large cryptos such as Bitcoin (BTC-USD).


Meanwhile, Dogecoin appears to be on the mend. It may be a good opportunity for entrepreneurial investors to try their hand with Dogecoin. Keep in mind that this is a very speculative cryptocurrency, and its price swings may be rather turbulent in the next months.

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