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Thursday, October 28, 2021

Dogecoin Has Turned Even More Popular Now

Although Dogecoin has hit its lowest transaction levels since 2017, the popularity of this meme cryptocurrency has never been stronger. Quite a few firms have already established plans of making adoption plays for this cryptocurrency for this week- which also includes Robinhood which confirmed that it would be looking to roll out a completely new feature for the cryptocurrency wallet in its app the following month which would support the deposits of DOGE along with its withdrawal.

Billy Markus, the co-creator of this meme coin, tweeted earlier that the adoption from Robinhood was quite a huge thing for this cryptocurrency as it would open up multiple avenues. 

Buy $384 million in real estate with Dogecoin

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RedSwan, a commercial real estate tokenization platform, announced on Wednesday that it would be accepting Dogecoin for a couple of its real estate deals on the marketplace. The firm has been offering up fractional ownership in a couple of high-rise apartment buildings which have a combined worth of $384 million. Edward Nwokedi, the CEO of RedSwan, stated that the cryptocurrency is on the verge of transforming from a meme cryptocurrency to a legitimate mode of payment for institutional transactions. 

Adam Aron, the CEO of AMC Entertainment, previously conducted a poll for his Twitter followers, where he asked the community whether Dogecoin should be one of the additions to the company’s plans of supporting crypto mode of payments for tickets by the end of the year. Almost 68.1% of the votes were asking for its acceptance. 

After the poll got over, the CEO stated that it was pretty clear that AMC Entertainment should be accepting Dogecoin- and now the main problem was to figure out a way that would allow them to do so. Even Elon Musk, the former ‘CEO’ of DOGE, mentioned that the fee structure of DOGE could be lowered which would bring in wide adoption of the cryptocurrency.

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