Despite DOGE’s lowest transaction levels since 2017, the Dogecoin meme still holds its power.
Numerous firms made DOGE adoption plays this past week, including Robinhood. Robinhood confirmed via Twitter that it would roll out a new crypto wallet on its app next month to support DOGE deposits/withdrawals.
“Okay, we can overreact now Robinhood wallets are huge news for Dogecoin — it opens up so much users to the true utility of cryptocurrency!”
Doge Real Estate: $384M In Real Estate
RedSwan, a commercial real estate tokenization platform, announced on Sept. 22 that it would accept Dogecoin to facilitate two digital real-estate deals on its marketplace. The company is offering fractional ownership in two high-rise apartments buildings valued at a total of $384 million.
RedSwan CRE chief executive Officer Ed Nwokedi stated that “[Dogecoin] stands on the cusp for transitioning from being a meme coin’ to legitimate institutional or transactional use cases.”
Dogecoin Apartment building: RedSwan
The two digital real-estate deals, APLO or LHOK, require minimum investments of $1,000 (roughly 4,447 DOGE) and offer annualized targeted investor internal rates of returns of 26% & 19%, respectively.
Adam Aron, CEO of AMC Entertainment conducted a Twitter poll asking 140,000 people whether DOGE should be included in the firm’s plans for crypto payments to tickets by 2021. The vote for “Yes, it’s possible” was 68.1%.
This is something I didn’t expect to see. @ElonMusk liked the Tweet I sent about my Dogecoin Twitter poll. Congratulations to SpaceX and Tesla, if you see this tweet as well Mr. Musk. You sir, I have always strived to be an innovator throughout my career. pic.twitter.com/rIW6OpOnYL
— Adam Aron (@CEOAdam) September 22, 2021
Aron stated that following the overwhelming support for DOGE, “It is clear that you believe AMC should accept Dogecoin.” We now need to figure how to do this. Keep watching!
Elon Musk, former DOGE “CEO”, called for the DOGE fees structure to be reduced to encourage widespread adoption.
It is vital that doge fees drop in order to make movie tickets purchase possible
Elon Musk (@elonmusk), September 22, 2021
Related: DOGE Cost Averaging Robinhood launches a fee-free, recurring crypto buying feature
Transaction levels are low
Despite all the hype, DOGE transaction volumes have fallen to levels not seen since December 2017, despite it being a busy week.
Bit Info Charts data shows that daily DOGE transactions fell to 16,000 for the first time in four year. This figure is starkly different from the DOGE-mania which swept the crypto markets in April this year, resulting in peak 24-hour transaction volumes of 140,000.
The DOGE’s marketcap and price reflect the lack of on-chain activity. It has fallen 69% from its high of $0.73 in May to $0.22 at the time.
I am a technology and gaming writer by profession. I love NFT’s and play to earn gaming such as Axie Infinity. I love writing about anything on the blockchain, especially gaming and entertainment. I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.