Gucci’s luxury label will soon accept Dogecoin and Shiba Inu as a payment method in some US branches, and DOGE is also backed by rapper Ice Cube. Can the significant support save both cryptocurrencies in the short term?
Dogecoin fights for profit
In the long run, everything seems to be possible again for Dogecoin (DOGE): After Elon Musk took over Twitter, speculation is rife about how Tesla’s CEO now plans to integrate DOGE into the social network. The following still applies: One of the richest men in the world aims to make Dogecoin a “global currency” – and this greatly strengthens the spirit of HODL within the community.
In the short term, however, things are not looking particularly good for Dogecoin. The base has been hit hard, as have its side effects and rival Shiba Inu Coin (SHIB).
DOGE has fallen about 6% in the last seven days and is currently trading at $ 0.12. Weekly minus minus losses of about 6% also follow (data from Nomics.com).
There are no better things for Shiba Inu Coin (SHIB): After falling 6.7% in the last 24 hours, Shiba Inu is hovering around $ 0.00001994 after the coin lost about 11% in the past week.
In short: Meme coins are currently struggling to gain momentum – and that despite all the good news. For example, yes with US rapper Ice Cube, another celebrity turns out to be a Dogecoin supporter.
– Wendy Doge 🐕💟♑️☯️ (@ WendyMZ8534) May 6, 2022
Background: Ice Cube sells one of its basketball teams – for $ 600,000 in Dogecoin! Comment of the rapper:
“I’m a #DogeArmy fan”
Come on with Bill, you know I’m down with the #Arm Doge https://t.co/d9C1TzS4ff
– Ice Cube (@icecube) May 4, 2022
In addition, the Italian took Luxury fashion company Gucci cryptocurrencies like Dogecoin since the end of May (for purchase by eToro or Libertex) and Shiba Inu as payment method! Originally only in a few US branches, but according to their own statements by the end of the summer across North America.
Gucci accepts Dogecoin – and Shiba Inu
As Vogue Business reports, “Crypto payments will be made in stores via a link sent to the customer via email.” The link should then that there is a QR code that allows the customer to make the payment out of their crypto wallet.
Gucci President and CEO Marco Bizzarri moving:
“Gucci is always striving to embrace new technologies that can offer our customers a better shopping experience. Now that we can integrate cryptocurrencies into our payment system, it is a natural step for those customers who want to use this option. ”
The report names the fashion label as one “early adopters of Web3 technologies”with encrypted payments being another step in “combining its current physical footprint with Web3’s emerging efforts.”
The company, founded in 1921, now has its own team for this purpose, focusing solely on Web3 and developing corresponding metaverse and NFT strategies. Already in January and March the luxury brand has led to progress and appropriate projects.
Yes but I hope the Dogecoin spreads fast in the end it will also affect the course …