- Bitcoin of America announced that it will add support for Dogecoin which will primarily boost its adoption.
- DOGE has responded with strong gains with analysts expecting the price surge to continue.
Meme cryptocurrency Dogecoin (DOGE) is calling the shots today with the DOGE price up 14 percent. As of press time, DOGE is trading at $0.13 with a market cap of $18.3 billion. With this recent price surge, DOGE has touched a new one-month high.
The recent price surge comes as Dogecoin gets a major boost in America. Bitcoin ATM operator Bitcoin of America announced support for Dogecoin. Meaning, DOGE will be available for buying across all Bitcoin ATMs installed by the operator across the United States.
Registered as a money services business, Bitcoin of America is a popular crypto exchange in the country. It offers fast and hassle-free crypto transaction services along with strong customer support. ATM operator – Bitcoin of America – has been adding support for different cryptocurrencies apart from Bitcoin.
Last October 2021, it added the support for Ethereum, Now, citing higher demand for Dogecoin it has decided to include this meme crypto at their Bitcoin ATMs (BTMs). Currently, Bitcoin of America has more than 1800 BTMs installed across 31 states in the U.S. Investors can search for any BTC near them through the official website of Bitcoin of America.
The Bitcoin ATM operator recently launched a new Universal Kiosk that allows users to buy and sell crypto in exchange for cash. Proponents of Dogecoin believe that the recent move will help DOGE price to surge as it increases access to the memecoin.
The growing acceptance for Dogecoin
Memcoin DOGE started gaining a lot of prominence in the crypto space with billionaire Elon Musk throwing huge weight and support for the crypto. In fact, Musk has also argued that Dogecoin is more suitable for payments and transactions than Bitcoin. He said:
Fundamentally, bitcoin is not a good substitute for transactional currency. Even though it was created as a silly joke, dogecoin is better suited for transactions. [T]he transaction volume of bitcoin is low, and the cost per transaction is high.
In its yearly roadmap, the Dogecoin Foundation further added that it shall be working towards a Proof-of-Stake (PoS) transition. The Dogecoin Foundation said that it is working along with Ethereum co-founder Vitalik Buterin to craft a crafting a “uniquely Doge proposal for a ‘Community Staking’ version of PoS that will allow everyone, not just the big players to participate in a way that rewards them for their contribution to running the network, and at the same time gives back to the whole community through charitable causes.”
Besides, some businesses are also mulling to accept payments in DOGE. In Manhattan, New York, a high-end dental clinic recently added Dogecoin as an accepted means of payment.
Credit: Source link
