Today Dogecoin holders rally at the inception of DogeDay—coinciding completely coincidentally with International Weed Day. On this day, green candles are sure to overtake the cryptocurrency's stock charts, and how perfectly timed it is that tech giant, Newegg, has announced the ability for users to pay with Dogecoin (opens in new tab).
Newegg was actually one of the first companies to start accepting Bitcoin, and the turn toward Dogecoin is no surprise—since the start of April, Dogecoin share prices have shot up from almost $0.06 to $0.4, that's over a 640 percent increase in a single month. And it all started as a joke.
The rise of Dogecoin is due in large part to the intervention of one Mr. Elon Musk. With every tweet he sends out involving the memerific pupper, a surge of green stock chart candlesticks are sure to follow. Honestly, the man only has to sneeze and Dogecoin goes up in value.
This #DogeDay is dedicated to the man, the myth, the legend, the Technoking of Tesla, the Imperator of Mars, Destroyer of Shorts, Master of Memes, King of Twitter, Humanity’s Best, the one and only: @ElonMusk!On behalf of all of us, THANK YOU! #DogeDay420 #Doge #420day #Doge420 pic.twitter.com/JddJT0YItgApril 20, 2021
Sr. Brand Manager of Newegg, Andrew Choi, outlines the company's stance in a press release (via WCCFTech (opens in new tab)). He notes that “the excitement and momentum around cryptocurrency are undeniable, and the recent surge in Dogecoin value underscores the need to make it easier for customers to make purchases with this popular cryptocurrency.
“We’re committed to making it easy for our customers to shop however works best for them, and that means letting them complete transactions with the payment method that suits them best. To that end, we’re happy to give Dogecoin fans an easy way to shop online for tech.”
Despite all the pushback from companies like Nvidia (opens in new tab) trying to put miners off our precious gaming GPUs, cryptocurrency continues to stir up the market. It's announcements like this that give mining companies ever more excuses to buy up all the GPUs (opens in new tab) before a potential hash rate limiting refresh hits the 30-series. And with more companies buying into it, we're just going to have to accept this is the state of things in 2021.
We're likely to see more companies embracing the success of the cryptocurrency market as we move into the future. Great news if you have any to spend, but that doesn't mean you're any more likely to land a GPU in the current stock crisis. Seriously, guys, save some for the rest of us.