Dogecoin (DOGE) could skyrocket to a record price of $1 “in less than 24 hours” if the meme cryptocurrency has the backing of Amazon.com Inc. (NASDAQ:AMZN) founder Jeff Bezos, a bullish YouTuber famously claimed in April 2021.
What Happened: Crypto-analyst YouTube channel ‘Self Made’ told The Daily Express that Bezos’ approval of Dogecoin could take the cryptocurrency to unimaginable heights in the long run.
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“There is speculation that Jeff Bezos might be coming to the scene as a second-lead. The adoption from someone like Bezos can set Dogecoin to $1 in less than 24 hours,” the YouTuber was quoted by the Daily Express as saying.
The approval by Bezos would show Dogecoin is supported by the two richest men in the world and is something that is “only seen once-in-a-lifetime,” the financial expert noted.
Tesla CEO Elon Musk often tweets about Dogecoin and these tweets sometimes have an overwhelming impact on the price of the joke cryptocurrency.
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Why It Matters: More companies had begun accepting Dogecoin as a payment option, when the YouTuber made the comment in 2021. Amazon has far shied away from using cryptocurrencies as a payment option, despite being under pressure to rethink its stance.
Petitions posted on Change.org are seeking to get Amazon to accept Dogecoin for payments. One petition running for years now has 240,877 signatures in April 2023, compared to the 162,600 signatures two years ago.
It was reported in February 2021 that Amazon was preparing to launch a “digital currency” project, beginning with Mexico, based on the company's job listings.
Dogecoin was trading around $0.437, lifted by the social media buzz around the cryptocurrency, at the time, emerging as retail investors’ darling.
Dogecoin fans on social media were gunning for the joke cryptocurrency to hit 69 cents on “Doge Day,” April 20, 2021. However, the day turned out to be a damp squib as the Shiba Inu-themed cryptocurrency failed to soar to the levels envisaged by the Doge Army.
This story was originally published in April 2021.