Uber Eats Accepts Dogecoin, DOGE Price Fails to Recover
2022.07.05 03:55
Uber Eats Accepts Dogecoin, DOGE Price Fails to Recover
- Uber (NYSE:UBER) Eats has announced the acceptance of Dogecoin through the BitPay Card.
- Dogecoin users can order food delivery from their local restaurants and pay using the meme coin.
- Analysts believe Dogecoin’s price could plummet lower, a 71% crash in DOGE is likely.
Dogecoin is now accepted by Uber Eats, the online food ordering and delivery platform launched by Uber in 2014. Uber Eats now accepts Dogecoin in three ways. Dogecoin holders can buy gift cards for the food delivery service, or use the BitPay card to spend DOGE like cash.
Uber Eats, Grubhub and DoorDash are the three online food delivery services that do not accept direct cryptocurrency payments. It is a watershed moment for Dogecoin holders as BitPay powers their DOGE payments for food ordering and delivery.
Since BitPay powers instant fee-free conversion of Dogecoin to USD, every time a user swipes the card, its acceptance at UberEats is key to DOGE’s rising utility.
The acceptance of Dogecoin payments is currently growing in the business ecosystem. In the past few weeks, luxury watchmakers like Tag Heuer, Hublot, and Breiling announced the acceptance of DOGE via BitPay.
The latest blogpost by BitPay read: “Use the [BitPay] card with DoorDash, Uber Eats, GrubHub (NYSE:GRUB), and any other food delivery service. You can even order food delivery with your local restaurants that use their own delivery service.”
Studinovski Exotics, a car rental company from San Diego recently announced its acceptance of Dogecoin. In addition to luxury brands, car rentals, and food ordering platforms, Dogecoin could soon be accepted by Panini America, a firm that specializes in sports collectibles.
Dogecoin’s price started its rally, after crossing the resistance barrier at $0.66. The recovery suggests a rally to $0.082 is likely if Dogecoin’s price continues to climb. However, DOGE holders need to be careful, as the uptrend is characterized by low volume and it is likely that Dogecoin price hits a barrier.
A decisive close below the support level at $0.048 could invalidate the current bullish outlook and push Dogecoin towards a 71% crash.
DOGE-USDT price chart (Source: TradingView.com)
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.
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