• Dogecoin market capitalization at more than $ 35 billion
• Dogecoin trading volume increases sharply in Q2
• House sale: Crypto investor offers a discount when paying with Dogecoin
With a market capitalization of more than 35 billion US dollars (CoinMarketCap), Dogecoin has advanced to seventh place among the cryptocurrencies with the largest market capitalization. The Dogecoin price is currently hovering at $ 0.2755 (as of August 13, 2021) – in May of this year it had reached a high of $ 0.7376.
Dogecoin on the rise
The fun currency, which was still trading at around 0.004 US dollars at the beginning of the year, received tailwind from, among others, the WallStreetBets movement and the Tesla CEO Elon Musk, who commented positively on Dogecoin several times on Twitter and declared himself a “Dogefather” in April.
But not only the Dogecoin course was able to increase strongly this year. The hype about the fun currency also ensured that crypto exchanges such as Coinbase, eToro and Gemini added Dogecoin to their portfolios. And so Business Insider reported, citing a Coinbase report, that the average daily Dogecoin trading volume on the world’s major crypto exchanges rose to $ 995 million in the second quarter, an increase of 1,250 percent compared to the 74 million US dollars from the first quarter correspond.
Dogecoin as a means of payment
Bitcoin today is primarily seen as a way to store value and therefore competes with the safe haven of gold. But the oldest and most popular crypto currency is also finding its way into everyday life as a payment method. As Yahoo Finance reports, the buzzword “Bitcoin is digital real estate” has also been in trend in the recent past due to scarcity, fungibility, liquidity, etc. in social media. In addition, Bitcoin can also be used as a payment method for real estate transactions.
Buying Bitcoin is quite complicated and time-consuming.
»Here you can easily buy and sell Bitcoin
Meanwhile, the Dogecoin community is increasingly optimistic about the potential of the meme coin and is increasingly comparing its favorite crypto currency with Bitcoin. The use case of Dogecoin as a payment method could also potentially increase, according to Yahoo Finance.
US homeowner believes Dogecoin will continue to rise
An investor from the USA is convinced of Dogecoin: He wants to sell his house in Saratoga Springs, New York, as the American television station KUTV reported, for 389,000 US dollars and offers a price discount of ten percent if the buyer should agree the now well-known cryptocurrency Dogecoin. The home seller Scott Paul offers payment with seven different crypto currencies – but Dogecoin is his favorite.
“The decision was pretty obvious. I have a house that I want to sell, why not go to the limit to see if I can sell it for DOGE because we have to keep using that currency if we get it mainstream want, “KUTV quoted Paul, founder and CEO of a technology company named Wooly, based in Lehi, Utah.
Paul has already invested in cryptocurrencies and is familiar with the volatility in the market: “I have a really thick skin for the declines and I get a little depressed when we go through them, but I’ve been there before,” said Paul. He believes in the future of Dogecoin as a payment method and wants to help the meme coin achieve widespread acceptance. “It’s not a difficult decision, and that’s why I would give a discount now because I think the value would increase,” says KUTV the homeowner.
Finanzen.ch editorial team