Dogecoin is more popular than ever, even as TXs hit the lowest level since 2017. AMC CEO Adam Aron has said that Dogecoin movie ticket payments would be supported by the end of 2021. And real estate tokenization platform RedSwan also accepts DOGE.
Despite Dogecoin (DOGE) transaction numbers reaching their lowest level since 2017, the meme’s potency remains strong.
In fact, several companies have made DOGE adoption pushes this week. Including Robinhood, which announced that a new crypto wallet feature would be an addition to its app next month. Which will enable DOGE deposits and withdrawals.
Buy $384 million in real estate with DOGE
RedSwan, a commercial real estate tokenization platform, said on Wednesday that the platform will accept Dogecoin for two digital real estate sales on its marketplace. The company is providing fractionalized ownership in two $384 million high-rise residential complexes.
Furthermore, RedSwan CEO Edward Nwokedi stated, “Dogecoin is on the verge of shifting from a’meme coin’ to real institutional and transactional use cases”.
The two digital real estate ventures, APLO and LHOK, each need a $1K minimum investment (about 4,447 DOGE at the time of publishing). And offer yearly targeted investor internal rate of returns of 26% and 19%, respectively.
AMC Entertainment CEO Adam Aron ran a Twitter poll of 140,000 people on the same day. Asking if DOGE should be included in the company’s plans to enable crypto payments for tickets by the end of 2021. “Yes, absolutely do it” earned 68.1% of the vote out of the four alternatives available.
Following the poll’s overwhelming support for DOGE, Aron said, “It’s apparent that you believe AMC to take Dogecoin”. We’ll have to find out how to accomplish it now. “Be on the lookout!”
Former DOGE “CEO” Elon Musk joined in, urging a reduction in the DOGE pricing structure to encourage wider adoption.
Low transaction levels
Despite the excitement being at an all-time high this week, DOGE transaction numbers have plummeted to levels not seen since December 2017.
Moreover, the number of daily DOGE transactions has dropped to 16,000 for the first time in four years, according to BitInfoCharts statistics. The statistic contrasts sharply with the DOGE frenzy that gripped the crypto market in April of this year. With peak 24-hour transaction volumes of 140,000.
In conclusion, DOGE’s price and market capitalization had dropped 69% from its all-time high of $0.73 in mid-May to $0.22 at the time of publishing, indicating a dearth of on-chain activity.