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Dogecoin Twitter Acknowledges AMC CEO’s DOGE Payment Move

The official Twitter account of the meme-coin has shared their opinion regarding AMC CEO (Adam Aron) ‘s poll on accepting DOGE payments at their movie theaters. The tweet from DOGE’s official Twitter account suggests that the CEO should discuss his idea with top DOGE advocates, especially the billionaires such as Mark Cuban and Elon Musk. Then, the tweet further suggests that AMC should start accepting the coin without further delay saying that AMC is about to have a ‘wow’ experience like the billionaires it mentioned. 

Tweet from Dogecoin’s official Twitter account. Source: Twitter

Musk Lends His Support For AMC’s Doge Idea

Elon musk has also added his voice regarding AMC’s idea. The electric car billionaire tweeted that DOGE’s fees need to be reduced to make movie purchases and other payment settlements viable using DOGE.

He also said that once Dogecoin’s fees are reduced, it will become better than Bitcoin. Before the tweet from the official Dogecoin Twitter account, one of Dogecoin’s founders, Billy Markus, tweeted that Dogecoin community members like the AMC CEO’s tweet and vote on the poll to which Elon Musk was noted to have ‘liked’ the tweet.

Elon Musk Tweet. Source: Twitter

In the light of Musk’s comments, Markus has now suggested that DOGE’s node operators need to upgrade the meme coin’s core to its newest version, which will lead to fee reduction automatically. DOGE developers launched the latest core late last month, and some of the features of the new core include improved performance and fixing of bugs.

DOGE Makes Strong Gains

The bulls appear to be regaining control of DOGE, especially with the news that AMC is considering adopting the meme-themed cryptocurrency as a payment option in its movie theaters. As of this writing, DOGE currently trades at about $0.2254.

One other reason for the DOGE’s bullishness is the announcement by Robinhood to launch a wallet that will enable users to make deposits and withdrawals with DOGE. This announcement will further enhance the user growth of the retail trading platform.

There are also rumors that musk-owned Tesla company is considering including DOGE as a payment option for its electric cars. The rumors were further substantiated when a DOGE influencer tweeted that tesla’s announcement could come after Robinhood’s new wallet launch. Even though tesla is yet to confirm or deny the rumor, the news has increased DOGE’s trade activities.

Crucial DOGE Levels

The MACD and the mas do not give any clear direction on the 4-hour chart. But the larger moving averages, the popular technical indicators, and the stochastic suggest bearishness. However, DOGE will need increased bull pressure to surge past its next crucial resistance of $0.24.  After surpassing this resistance, it will also face critical resistance at the $0.253 and $0.271 levels before it can make a move to surge past the $0.31 price.

Despite all the good news surrounding DOGE this week, BitInfoCharts data showed that its transaction volume has declined to a 4-year low. It is the first time since 2017 that the DOGE transaction volume will be around 16,500.

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