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Adoption of Dogecoin wins another victory as Coinbase Commerce recently announced that it will start accepting payments in Doge. Coinbase’s trading arm took to its Twitter to announce the news. Users can now make commercial payments on the platform using the very popular Dogecoin.
a lot of payment. very commercial. 🐕
Just a quick note to let you know that we now accept commercial payments in Dogecoin (DOGE)!
– Coinbase Commerce (@CommerceCB) July 21, 2021
Coinbase Commerce allows merchants around the world to accept cryptocurrencies as a form of payment. And this is done in a fully decentralized manner.
Related reading | Elon Musk confirms he owns Dogecoin, Bitcoin, Ethereum
This is just a new step in supporting digital currency. Coinbase had announced that it was listing Doge on its exchange in June. With self-proclaimed Doge killer Shiba Inu. The integration moves Dogecoin out of the purely commercial territory. Now, digital currency holders can now spend their Dogecoin.
Accept Dogecoin as payments
Elon Musk, the “Dogefather,” revealed in June that he planned to launch the DOGE-1 mission to the moon. Musk had announced that the company would accept the coin itself as payment for this launch. The launch of the DOGE-1 mission to the Moon is expected to take place in the first quarter of 2022.
Related reading | Dogecoin is excluded from the S&P 243-Coin crypto index
Now Dogecoin joins Bitcoin and Ethereum on the shortlist of cryptocurrencies accepted on Coinbase Commerce. Adding Doge brings this list to seven pieces now.
This list will allow Doge holders to be able to pay for their purchases using the token. Users can convert their cryptocurrencies on Coinbase Commerce to fiats like USD and Euro without leaving the Coinbase platform.
Doge price movements
The memes-inspired play has seen a significant increase recently. In about 24 hours, the price of Dogecoin has increased dramatically. Earn more than 13% to put the coin price over $ 0.22.
Trading below $ 0.20 last week, the asset had seen significant growth by the end of the weekend. As the crypto market has seen over $ 1 trillion added to its market cap, Doge’s price has gone up. With the 50 best parts on the market.
Doge posts significant recovery as market rebounds | Source: DOGEUSD on TradingView.com
The Doge community continues to show growing confidence in the play. And with the announcement of Coinbase’s listing, bullish sentiments abound throughout the community.
Elon Musk also reiterated his support for the piece recently. During the “B Word” conference, the CEO revealed that he still owns Doge and that he will not be selling anytime soon. Explaining that although it can pump, it will never empty.
Dogecoin continues to dominate the coin market even by a wide margin. The asset controls most of the coins market cap at a market cap of $ 29 billion currently. Remaining one of the best winners of the weekend.
Featured image from Republic World, chart from TradingView.com
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