Will Amazon Embrace DOGE? 130,000 People Hope So as Dogecoin Prices Climb

Celebrities love crypto. The past six months has been flush with celebrity cryptocurrency endorsements of all shapes and sizes. Some send a tweet, or lead a small campaign for their preferred token. Then there are some like Elon Musk, living and breathing all things Dogecoin (CCC:DOGE-USD). And as Dogecoin prices surge upward, people are speculating over who will be next to endorse the Shiba Inu.

A concept image of Dogecoin (DOGE) with the Shiba Inu and text on a gold token.

Source: Shutterstock

As an iconic figure who has yet to publicly endorse crypto, many think Jeff Bezos is the next person to invest in digital coins. And with a new petition, bearing the name “Doge4Amazon,” people are trying to spur his embracing of cryptocurrency. The petition is calling for Bezos’ Amazon (NASDAQ:AMZN) to include DOGE as a payment option.

Could Rising Dogecoin Prices Sway Bezos?

The idea of a major retailer allowing Dogecoin payments isn’t new. Dallas Mavericks owner Mark Cuban, a huge proponent of Dogecoin, has allowed fans to buy tickets and merch with Dogecoin. The inclusion of the meme coin as a payment option has paid off greatly as well; Cuban says the team sold 122,000 DOGE worth of merchandise in March. As a result, Cuban has gone all-in on the coin. “We will never sell 1 single Doge ever,” Cuban proclaimed via tweet after the blockbuster sales month.

The petition for Amazon to accept DOGE as a payment option has garnered significant support. As of this morning, the “Doge4Amazon” document has amassed over 130,000 signatures.

Could Jeff Bezos be convinced that the time is right for crypto payments on his e-commerce platform? The success of Cuban’s online Mavericks merch market is nothing to scoff at, but it certainly doesn’t touch Amazon in terms of sales. The question is whether or not Bezos feels the same way about crypto as his billionaire peers.

Given the massive movements we’ve seen in Dogecoin prices, and the success of Coinbase (NASDAQ:COIN) on the traditional market, I think there’s reason to believe in Amazon caving at some point. And as the gigantic e-retailer that Amazon is, I think we can expect another crypto boom when the payment option does land on the platform.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/04/will-amazon-embrace-doge-130000-people-hope-so-as-dogecoin-prices-climb/.

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