Guaranty Escrow, a real estate service provider that accepts crypto payments has added Dogecoin to its payment list allowing customers to buy their next house by paying in meme currency. The real estate service provider claims to be a pioneer of crypto payments in the real estate business accepts Bitcoin, Ethereum, and now Dogecoin along with several stablecoins as well. They facilitate all the crypto transactions via BitPay.
— BitPay (@BitPay) May 14, 2021
Dogecoin has risen from being an internet meme currency to become the fourth-largest cryptocurrency by market cap after achieving a new ATH of $0.73. The unprecedented rise has been aided by the TikTok frenzy and heavy shilling by Elon Musk. Musk has recently even talked about working with Doge devs to make the meme currency a more efficient form of money, following which the digital asset rose nearly 30% after falling to monthly lows of $0.39 post-Vitalik Buterin led selling spree yesterday.
Doge Brings in the Meme Frenzy This Bull Season
Crypto space has an established trend when it comes to price rise momentum, where altcoins of a similar kind have risen together and Dogecoin’s rise was no different, or maybe a little different. The mammoth rise of Doge from $0.04 levels last month to new ATH triggered a meme coin bull run-fest where many new meme currencies hit the market in a matter of weeks and saw their price surge by 10X to 15X in the matter of days post listing. Shiba Inu is one such example that managed to break into top-20 within days of listing thanks to the meme frenzy.
The only problem with the rise of meme currencies is that there is no inherent use case of these assets since it was created as a joke in the first place. The Dogecoin, for example, has an infinite supply and no use case, and despite being community-driven and comparatively decentralized had only one reason to rise up until now i.e Elon Musk continuously tweeting about.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.