Dogecoin (DOGE), which has entered a great decline adventure due to the depreciation of Bitcoin, is changing hands at $ 0.8702 as of the publication time.

On the other hand, Dogecoin, which is heavily supported by Elon Musk, the richest businessman in the world, seems to be integrated into Twitter in the coming days.

While many investors were waiting for this development, Matt Wallace, a well-known name in the crypto market, made a new claim. Sharing his comments on the crypto market to his 615,000 followers on his Twitter account, Matt Wallece said that Amazon can accept Dogecoin (DOGE) as a means of payment.

dogecoin doge-1

Stating that Amazon can accept Dogecoin, the popular meme coin, Wallace made many investors excited. Amazon, one of the largest companies in the world, has been close to the NFT and crypto market lately.

The fact that Tesla CEO Elon Musk stands behind Dogecoin ensures that, along with Bitcoin, DOGE is adopted by corporate companies around the world. If Dogecoin is integrated into Twitter, this adoption rate may increase. After this move, Amazon's announcement that it also accepts payments with DOGE may enable the leading meme coin to experience a new rally by separating from the crypto market.

elon musk dogecoin-2

"Dogecoin Has The Potential To Become A Currency"

Elon Musk expressed his support for Dogecoin in a recent tweet. He highlighted the widespread appeal of Dogecoin. He called it the people's cryptocurrency. According to Tesla CEO Elon Musk, Dogecoin has the potential to become a currency.

On Thursday, May 12, Elon Musk reiterated his support for Dogecoin. After iterating, DOGE experienced a 30% recovery. This coincided with his voicing of support for the recovery. In addition, Elon Musk's announcement that DOGE has the potential to become a currency managed to attract the attention of many investors.

Elon Musk said Dogecoin is suitable for financial transactions compared to Bitcoin. Seeing Bitcoin as the best value, Musk supported the claim that DOGE lowers the cost per transaction and increases transactions per second. This made investors think long-term about Dogecoin.