“It’s time for Amazon.com to be one of many first main corporations to see the ability of Dogecoin and with the massive momentum the Dogecoin group is producing now’s the time for Amazon to simply accept Dogecoin as a fee technique!”
It could have began as a joke, however because the market downturn continues, Dogecoin is the one prime ten cryptocurrency within the inexperienced as we speak. This resilience bodes nicely for DOGE. Nonetheless, does Amazon see it this manner?
Dogecoin Defies the Odds
Close to 8,000% positive factors year-to-date isn’t any joke. Dogecoin’s efficiency in 2021 has destroyed any notion that fundamentals and sound tokenomics rely.
In the present day is April 20, which is world “Weed Day.” Nonetheless, Dogecoin holders try to hijack at the present time with the intention of rallying assist for a $1 DOGE.
The hashtag #DogeDay is at present trending quantity 2 on Twitter. With Reddit additionally a hotbed for the coup. In drumming up assist, one person described hitting $1 as an inevitability, even saying that in itself is a small objective.
“$1 is inevitable, and we are able to take a pit cease on the moon, certain, however our lord and savior doge ought not be restricted by such small targets. The second is now. We will mom heckin do that.”
Primarily based on rising sentiment round Dogecoin, who’s to say that $1 gained’t occur? Billionaire Mark Cuban thinks it should. He even backed this up by accepting DOGE as fee for Mavs tickets and merch.
However regardless of the enjoyable and positivity, a nagging drawback exists in DOGE’s infinite provide. The inflation fee sees about 5 billion DOGE a yr added to the provision. Whereas that is essentially no completely different from fiat cash, it nonetheless isn’t straightforward to reconcile this with a distinct segment token inside an unconventional trade.
What’s The Deal With Amazon and Crypto?
Amazon doesn’t at present settle for cryptocurrency for fee, not to mention Dogecoin. Though the change.org petition has sturdy assist, Amazon will not be obliged to take motion.
Is that this one thing that can change sooner or later? Who is aware of, however what is thought is that Amazon has plans to launch its personal digital forex. The retail big just lately posted a job advert calling on appropriate candidates to hitch its Digital and Rising Funds division.
The job advert has since been pulled, however not earlier than eagle-eyed observers famous it was for the Mexican market, with plans to roll out into different territories if profitable.
At this stage, it’s troublesome to find out what this challenge could imply regarding the cryptocurrency trade. However based mostly on previous choices, the agency tends to wall its merchandise inside its personal ecosystem.
Supply: DOGEUSD on TradingView.com