Dogecoin adoption gains another win as Coinbase Commerce recently announced it would begin accepting payments in Doge. The commerce arm of Coinbase took to their Twitter to announce the news. Users can now make commerce payments on the platform using the widely popular Dogecoin.
much payment. very commerce. 🐕
Just a quick blast to let you know we’re now accepting commerce payments in Dogecoin (DOGE)!
— Coinbase Commerce (@CommerceCB) July 21, 2021
Coinbase Commerce allows merchants everywhere to accept cryptocurrencies as payment. And this is done in a fully decentralized way.
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This is just another step in support of the digital currency. Coinbase had announced that it was listing Doge on its exchange back in June. Along with self-proclaimed Doge killer Shiba Inu. The integration moves Dogecoin out of just purely trading territory. Now the digital currency holders can now spend their Dogecoin.
Accepting Dogecoin As Payments
Elon Musk, the ‘Dogefather’, had revealed in June that he planned to launch the DOGE-1 Mission to the Moon. Musk had announced that the company would be accepting the meme coin as payment for this launch. The launch for the DOGE-1 Mission to the Moon is slated to be carried out in the first quarter of 2022.
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Now, Dogecoin joins the likes of Bitcoin and Ethereum on the shortlist of cryptocurrencies accepted on Coinbase Commerce. The addition of Doge puts this list at seven coins now.
This listing will allow Doge holders to be able to pay for purchases using the token. Users can convert their crypto coins on Coinbase Commerce to fiats like USD and Euro without leaving the Coinbase platform.
Doge Price Movements
The meme-inspired coin has seen a significant uptick recently. In about 24 hours, the price of Dogecoin has grown tremendously. Gaining over 13% to put the price of the coin at over $0.22.
Trading at less than $0.20 last week, the asset had seen significant growth as the weekend drew to a close. As the crypto market saw over $1 trillion added to its market cap, the price of Doge shot up. Along with the top 50 coins in the market.
Doge posts significant recovery as market rebounds | Source: DOGEUSD on TradingView.com
Doge’s community continues to show increasing faith in the coin. And with news of the Coinbase listing, bullish sentiments abound throughout the community.
Elon Musk has also reiterated his support for the coin recently. At the ‘B Word’ conference, the CEO had disclosed that he still held Doge and was not selling anytime soon. Explaining that while he may pump, he would never dump.
Dogecoin continues to lead the meme coin market by a large margin. The asset commands most of the meme coin market cap at a $29 billion market cap currently. Remaining one of the top gainers of the weekend.
Featured image from Republic World, chart from TradingView.com