Amazon to accept Dogecoin for payments

Amazon to accept Dogecoin for payments

Dogecoin (doge) is by far one of the most underrated cryptocurrency. Many users dismiss it due to its humorous and meme nature, however, what most people don’t realize is DOGE has one of the strongest communities out there. In fact, Kevin Rooke explains how Dogecoin doge has more daily active addresses than all cryptocurrencies except Bitcoin BTC and Ethereum ETH."Amazon to accept Dogecoin for payments"

Amazon to accept Dogecoin for payments

Speaking of a strong community, a while back a petition was created called Doge4Amazon which aims to convince Amazon to accept DOGE for payments. At the time of writing the post, the petition received 22,182 signatures out of a total 25,000 goal. The petition reads:

“Dogecoin Doge is already being used by many small business owners and investors, charity organizations, and entrepreneurs around the world as a means to buy and sell goods and services. It’s time for to be one of the first major companies to see the power of Dogecoin and to accept it as a payment system.”

Whether Amazon will actually listen to the petition and begin accepting Dogecoin Doge is something we can only speculate on. The reality is, Amazon is more likely to begin accepting Bitcoin BTC for payment method first before it expands support to other digital assets.

On another note, it is worth mentioning Dogecoin celebrated its 5th birthday on December 6th, 2018. It is crazy to think that a 5-year-old cryptocurrency that is based on memes is valued at over $200 million. The high market valuation speaks to the importance of having a strong community.

Dogecoin Price Analysis

Relative Strength Index(RSI): Looking at the RSI chart is at a healthy 55 points meaning the market has plenty of momentum to make some surge. The relative strength index has recovered from the oversold territory meaning the price is looking at testing the new support for the time being.

Bollinger Bands: The price is tracing the upwards Bollinger band meaning that further upward momentum is unlikely in the immediate future. Instead, the crypto market most likely will try and test the new support level before making another move upwards.

It is also worth mentioning that most crypto coin markets have converged to follow Bitcoin’s movement, Dogecoin being no exception.

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