It all started as a joke but today, Dogecoin is clearly playing a serious game of competing against the world’s largest cryptocurrencies.
Since 2021, Dogecoin has been very busy expanding its expansion on various transactions, and it is been a success so far. According to recent data, merchants who currently accept Doge for payment have jumped more than 60% in the last eight months.
Merchants prefer crypto because of its low transaction fees which makes it very ideal for facilitating small transactions. Bitcoin and Ethereum, on the other hand, have higher transaction fees because of the high traffic in their networks.
More than 1,700 merchants worldwide are now accepting DOGE payments, and this number is expected to further increase this year.
Entertainment and real estate
AMC, an American multinational cable TV company, conducted a poll and asked the crypto community if they would want the company to add DOGE as one of its payment options. The company received 140,000 votes, which is equivalent to 77%, in favor of a DOGE payment.
The cable TV giant has also announced that by the end of the year, it would officially accept cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
RedSwan, a commercial real estate tokenization platform, has announced that it would begin accepting Dogecoin payments for its select properties.
Doge advocates
SpaceX and Tesla chief executive officer Elon Musk is one of Dogecoin’s biggest supporters. Musk has been instrumental in the meme coins’ rise in popularity and pushed its potential to a whole new level.
The CEO has praised and acknowledged AMC’s recent adoption of Dogecoin, but Musk said that DOGE’s fees should decrease even further for it to become a viable payment option for movie tickets.
He believes that if these fees go even lower, Dogecoin’s adoption could significantly rise as more merchants would be interested in accepting it.
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