The value of Dogecoin has increased by 5000%, and many platforms have begun to use it as a circulating currency

The value of Bitcoin has continued to decline recently, and Dogecoin has taken the opportunity to "rise to the top" and become one of the currencies used to complete transactions on multiple platforms in North America.

What is Dogecoin?

Dogecoin is a cryptocurrency, just like Bitcoin or Ethereum. It was originally created as a lighthearted joke by a small group of crypto enthusiasts and was named after the widely circulated meme "DOGE".

From its birth to its development, Dogecoin is full of jokes and magic. No one expected that the cryptocurrency that was created just as a joke would quickly become popular in 2021 and become the fifth largest cryptocurrency by market value .

The existence of Dogecoin is no longer a joke , its value has skyrocketed and increased by more than 5000% in 2021. The development of Dogecoin has been promoted by Tesla CEO Elon Musk, who called Dogecoin his favorite cryptocurrency. Musk also called Dogecoin "the people's cryptocurrency" and promised to plant Dogecoin tokens on the moon.

The Doge tag on Twitter had 181,000 tweets, topping the list on April 20 , and DogeDay also became a hot topic. Bloomberg said that the recent rise in Dogecoin is a manifestation of retail investors' enthusiastic participation in the cryptocurrency market .

In addition to being used as an investment, Dogecoin has also become one of the circulating currencies on multiple platforms in North America .

Newegg said that to celebrate "DogeDay", the platform began accepting Dogecoin as an official payment method.

It is worth noting that as early as 2014, Newegg became the first mainstream e-commerce platform to accept Bitcoin payments . At the same time, Newegg is also one of the first platforms to allow users to use Dogecoin to pay when shopping online.

Andrew Choi, senior brand manager at Newegg , said that the excitement and momentum surrounding cryptocurrencies and the recent surge in the value of Dogecoin highlight the demand for users to use this popular cryptocurrency for purchases. The platform is committed to making it more convenient for consumers to shop and allow them to complete transactions using the payment method that suits them best.

It is reported that when completing an order on the Newegg platform, users who want to pay with Dogecoin only need to click "Edit" in the payment section on the loan page , select BitPay, and use the Dogecoin in their e-wallet to complete the transaction.

In addition, according to foreign media reports, after the price of cryptocurrencies soared last week, more than 130,000 people have signed a petition calling on Amazon to use Dogecoin as a payment method.

In addition to Newegg, some North American online platforms such as Robinhood and TradeStation allow consumers to purchase Dogecoin in addition to using it as circulating currency . The amount of cryptocurrency they provide is not as much as exchanges, but it is enough for circulation.

Dogecoin is an irresistible trend and has become one of the recent hot topics in foreign media. Sellers can pay more attention to information. After all, Dogecoin has unlimited potential and abundant business opportunities to be explored.

Dogecoin

Currency in circulation

Newegg