Dogecoin (DOGE) Potency Remains Strong Despite Drop

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Dogecoin Price Drop

The Dogecoin (DOGE) level of transactions has dropped tremendously. Statistics show that the drop, which is around 15000, is the lowest level witnessed since 2017. 

Mid May this year, the price of DOGE reached its peak ($0 .73) and has since dropped by over 70%. Currently, the price is 0.21. The drop, according to experts, was brought about by the Chinese government’s ban on crypto mining. In addition, this ban saw the entire Crypto market stumble.

Companies Adopting Dogecoin

Despite this DOGE drop, companies are adopting Dogecoin currency as a means of payment for services along with fiat currencies.

AMC Ent. Holdings, Inc.

AMC Entertainment Holdings, Inc. president Adam Aron announced that the company would accept Dogecoin as a mode of payment through a tweet viewed by millions of subscribers. 

Adam additionally revealed that the tweet is his most-read post yet, and more than 70% of the participants voted for DOGE’s acceptance. By the end of the year, AMC hopes to accomplish this goal.

AMC Entertainment operates like a holding company providing theater exhibitions, virtual ticketing, food, and similar services. 

Robinhood

Apart from AMC, Robinhood accepted a commission-free Dogecoin investment in July. Robinhood is a fintech service organization that is popularly known for its commission-free feature. The company allows users to buy and sell stocks and Crypto.

RedSwan

Intending to make affordable investments, RedSwan Commercial Real Estate came to life in April 2018. The blockchain-based marketplace anchors token technology to partition ownership of CREs. 

Recently, the company announced that two of its digital real estate sales would also accept DOGE payments alongside fiat currency. The two deals, APLO and LHOK, will accumulate a total of $384 million. The return rate for each is twenty-six percent and nineteen percent, respectively. 

What is Dogecoin (DOGE)?

On December 6, 2013, Jackson Palmer created Dogecoin with fellow Software engineer Billy Markus. Although the duo started it as a joke, investors feel like the Crypto is a legit investment plan.

As of the tenth of this month, the market Capitalization stood at more than 32 billion USD. Investors can buy and sell this digital currency and spend it like cash.

Tesla’s CEO and billionaire Elon Musk has shown this Crypto support on his social media platforms. 

The unique feature of DOGE is its active community. This online community uses Reddit to donate DOGE funds used for charity causes. 

To invest in Dogecoin, users need to open an online account with a Crypto Exchange platform that supports DOGE. Other than Coinbase, other exchange platforms that support DOGE include eToro, SoFi, Gemini, and Webull. Fund your wallet and make your purchase.

Conclusion 

Doge is considered the fifth largest cryptocurrency in terms of value. When comparing the total market cap, Dogecoin is among the most significant projects.

The DOGE price might drop, but companies are still investing, hoping that the coin will make more significant returns.

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