Is Amazon About to Accept Dogecoin? Investigated payment usage


A change.org petition asking Amazon to accept Dogecoin for payment has reached more than 140,000 signatures. The appeal was launched for four years, but the pace has increased over the past two months, reaching 100,000 signatures in February. Since then, interest has increased further.

“It is time for Amazon.com to be one of the first major companies to see the power of Dogecoin and with the tremendous momentum the Dogecoin community is generating, it is now time for Amazon to accept Dogecoin as a payment method!”

It may have started as a joke, but as the market decline continues, Dogecoin is the only top ten cryptocurrency in the green today. This resilience bodes well for DOGE. But does Amazon see it that way?

Dogecoin defies the odds

Almost 8,000% profit since the beginning of the year is no joke. Dogecoin’s achievements in 2021 have destroyed every idea that fundamentals and sound tokenomics count.

Today is April 20th, World Match Day. However, Dogecoin holders are trying to hijack this day with the intent of rallying support for a $ 1 DOGE.

The hashtag #DogeDay is currently on trending number 2 on Twitter. With Reddit also a hotbed for the coup. In ramping up support, one user described hitting $ 1 as an inevitability, even if he said it’s a small goal in and of itself.

“$ 1 is inevitable, and we could of course make a pit stop at the moon, but our lord and savior shouldn’t be limited by such small goals. The time is now. We can mother heckin do this. “

Based on a growing sentiment around Dogecoin, who’s to say $ 1 won’t happen? Billionaire Mark Cuban thinks so. He even backed this up by accepting DOGE as payment for Mavs tickets and merchandise.

But despite the fun and positivity, a nagging problem exists in DOGE’s never-ending offering. The inflation rate adds about 5 billion DOGE per year to the supply. While this is not fundamentally different from fiat money, it is still not easy to reconcile with a niche token within an unconventional industry.

What’s the deal with Amazon and Crypto?

Amazon does not currently accept cryptocurrency for payment, let alone Dogecoin. While the change.org petition has a lot of support, Amazon is under no obligation to take action.

Is this something that will change in the future? Who knows, but what is known is that Amazon has plans to launch its own digital currency. The retail giant recently posted a vacancy calling for suitable candidates to join the Digital and Emerging Payments division.

The vacancy has since been drawn, but not before eagle-eyed observers noticed it was for the Mexican market, with plans to roll out to other areas if successful.

At this stage, it is difficult to determine what this project can do for the cryptocurrency industry. But based on past offerings, the company tends to wall its products within its own ecosystem.

Dogecoin daily chart

Source: DOGEUSD on TradingView.com



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