What Will It Take For Dogecoin To Hit $1? Jeff Bezos Backing And Less Than 24 Hours, Says YouTuber

April 23, 2021 4:40 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
What Will It Take For Dogecoin To Hit $1? Jeff Bezos Backing And Less Than 24 Hours, Says YouTuber

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 has claimed.

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.

“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 analyst 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 Inc. (NASDAQ:TSLA) CEO Elon Musk often tweets about Dogecoin and these tweets sometimes have an overwhelming impact on the price of the joke cryptocurrency.

See Also: Dogecoin Creator Says Meme Coin's Development Has Kept Pace With Bitcoin

Why It Matters: More companies have now begun accepting Dogecoin as a payment option. Amazon, which has thus far shied away from using cryptocurrencies as a payment option, is under pressure to rethink its stance.

Petitions posted on Change.org are seeking to get Amazon to accept Dogecoin for payments. One petition so far has more than 162,600 signatures.

It was reported in February that Amazon was preparing to launch a “digital currency” project, beginning with Mexico, based on the company's job listings.

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. Dogecoin has now emerged as retail investors’ darling.

Dogecoin fans on social media were gunning for the joke cryptocurrency to hit 69 cents on “Doge Day,” April 20. 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.

The altcoin has lost 25.6% during the past 24 hours and is trading at $0.2115 at press time.

See also: How to Buy Dogecoin (DOGE)

Price Action: Amazon.com shares closed almost 1.6% lower on Thursday at $3,309.04,

Read Next: Dogecoin Money To Help The Doggos? Woman Pays Out All Adoption Fees At Shelter

Related Articles

Amid Dogecoin and Shiba Inu Hype, Internet Computer (ICP) Launches With Aim To Decentralize The Web

The token of a decentralized project that calls itself “Internet Computer” has taken the sixth spot in terms of market capitalization on the list arranged by CoinMarketCap. What Happened: Internet Computer (ICP) — the token of a cloud-computing project initially built by DFINITY, which aims to displace tech giants — traded at $451.50. read more

Mark Cuban Puts Money Where Mouth Is With $1M Bets On Netflix, Amazon And Crypto

Entrepreneur and NBA team owner Mark Cuban has never shied away from a good public argument. One friendly Twitter exchange led to $2 million in bets on a 10-year price appreciation performance. read more

20 Picks From The 2021 CNBC 'Stock Draft': Bitcoin, Amazon, Ark Lead The Way

The annual CNBC Stock Draft was held on Thursday. Ten professional investors, athletes and celebrities each chose two picks from a list of 60 investment ideas. The contest will crown the winner as the team with the highest average return from April 29, 2021, to Feb. 11, 2022, the Friday before the Super Bowl. read more

Bitcoin Is The First Pick In CNBC's 'Stock Draft'

Tim Seymour, the founder and chief investment officer of Seymour Asset Management, selected Bitcoin (CYRPTO:BTC) as the first pick in CNBC's 2021 "Stock Draft." "Talk about a coiled spring," Seymour said Thursday, adding that Bitcoin has pulled back 20% recently. He expects a policy follow-through that will be very supportive of Bitcoin. read more