Doge Army Showers Love On Newegg As It Begins Accepting Dogecoin Payments
Online tech retailer Newegg Inc. will now accept meme-centric cryptocurrency Dogecoin (DOGE) as an official payment method on its website, with the move coming on April 20, which some Dogecoin fans have declared to be the “Doge Day.”
What Happened: California-based Newegg said customers can now pay for purchases with Dogecoin while shopping online for consumer electronics, entertainment, smart home, and gaming products. Newegg has accepted apex cryptocurrency Bitcoin (BTC) for purchases made on the company’s platform since 2014.
See Also: How to Buy Dogecoin (DOGE)
Customers who want to pay with Dogecoin on completing an order on the Newegg website must click “Edit” in the payment section on the checkout page and then select BitPay, a bitcoin payment processing company. The transaction can be competed using Dogecoin held in the customers’ digital wallet.
Newegg also took to Twitter to ask Tesla Inc. (NASDQ: TSLA) CEO Elon Musk whether he would buy from the online tech retailer if it accepts dogecoin as a payment option. Musk often tweets about Dogecoin and these tweets sometimes have overwhelming impact on the price of the cryptocurrency.
New to us? We sell everything PC, tech, automotive, and more ► https://t.co/urCdU9Q3C4
— Newegg (@Newegg) April 19, 2021
Newegg tweet rallying Doge fans had over 26,500 likes and 23,000 retweets as of press time. BitPay too urged dogecoin fans to get Newegg's Musk tweet viral.
— BitPay (@BitPay) April 19, 2021
Why It Matters: Dogecoin is receiving increased support from major corporations, which are using the joke cryptocurrency for marketing purposes. Earlier on Monday, candy bar brands Snickers and Milky Way promoted the cryptocurrency ahead of “Doge Day.”
Last week, Dogecoin hit the psychologically crucial mark of 20 cents after Conagra Brands Inc. (NYSE:CAG) touched on how DOGE and Dogecoin were a “natural fit” for the company’s Slim Jim brand during the company’s quarterly earnings call. Slim Jim is a smoked meat stick snack.
Dogecoin has rallied over the past week and hit an all-time high of $0.4377 last Friday, lifted by the social media buzz around the cryptocurrency. The altcoin has risen 23.8% in the past 24 hours and is trading at $0.4151 at press time.
Dogecoin fans on social media are now gunning for the joke cryptocurrency to hit 69 cents on "Doge Day." April 20, abbreviated 4/20 in the U.S., is considered as an occasion for smoking or celebrating the smoking of cannabis. The reference to 4/20 is significant as Musk often mentions the number.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.