A Louisville coffee shop is rebranding as Dogebean, a play on Dogecoin DOGE/USD, and will accept payments in the meme cryptocurrency, according to a report by WLKY Channel 32.
What Happened: The coffee shop, 78 Coffee Co., is currently in the midst of a rebranding and is only taking online orders now, as per the report.
Andrew Lutes, Dogebean co-founder, was quoted as saying that 25% of the coffee shop’s sales are in cryptocurrency.
Lutes added he plans to open a café where customers can pay for a cup of coffee using Dogecoin. However, he has not set any date for the café’s reopening.
Why It Matters: Dogecoin has gained in popularity this year, thanks in part to the unstinted support of Tesla Inc. TSLA CEO Elon Musk.
Companies are increasingly accepting Dogecoin as a payment option and launching new products featuring the meme coin.
Axe, a top-selling deodorant brand from Unilever PLC UL, recently launched a limited edition of DogeCan, a deodorant can, inspired by Dogecoin.
See also: Today’s Dogecoin Price
Consumer packaged goods company Conagra Brands Inc. CAG and candy bar Snickers have used the cryptocurrency, which has its origins in a joke, for marketing purposes.
Price Action: Dogecoin is down 1.3% during the past 24 hours, trading at $0.2044 at press time.
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