Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Uber Eats Accepts Dogecoin, DOGE Price Fails to Recover

Cryptocurrency Jul 04, 2022 12:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Uber Eats Accepts Dogecoin, DOGE Price Fails to Recover

    • Uber (NYSE:UBER) Eats has announced the acceptance of Dogecoin through the BitPay Card.
    • Dogecoin users can order food delivery from their local restaurants and pay using the meme coin.
    • Analysts believe Dogecoin’s price could plummet lower, a 71% crash in DOGE is likely.

Dogecoin is now accepted by Uber Eats, the online food ordering and delivery platform launched by Uber in 2014. Uber Eats now accepts Dogecoin in three ways. Dogecoin holders can buy gift cards for the food delivery service, or use the BitPay card to spend DOGE like cash.

Uber Eats, Grubhub and DoorDash are the three online food delivery services that do not accept direct cryptocurrency payments. It is a watershed moment for Dogecoin holders as BitPay powers their DOGE payments for food ordering and delivery.

Since BitPay powers instant fee-free conversion of Dogecoin to USD, every time a user swipes the card, its acceptance at UberEats is key to DOGE’s rising utility.

The acceptance of Dogecoin payments is currently growing in the business ecosystem. In the past few weeks, luxury watchmakers like Tag Heuer, Hublot, and Breiling announced the acceptance of DOGE via BitPay.

The latest blogpost by BitPay read: “Use the [BitPay] card with DoorDash, Uber Eats, GrubHub (NYSE:GRUB), and any other food delivery service. You can even order food delivery with your local restaurants that use their own delivery service.”

Studinovski Exotics, a car rental company from San Diego recently announced its acceptance of Dogecoin. In addition to luxury brands, car rentals, and food ordering platforms, Dogecoin could soon be accepted by Panini America, a firm that specializes in sports collectibles.

Dogecoin’s price started its rally, after crossing the resistance barrier at $0.66. The recovery suggests a rally to $0.082 is likely if Dogecoin’s price continues to climb. However, DOGE holders need to be careful, as the uptrend is characterized by low volume and it is likely that Dogecoin price hits a barrier.

A decisive close below the support level at $0.048 could invalidate the current bullish outlook and push Dogecoin towards a 71% crash.

DOGE-USDT price chart (Source: TradingView.com)

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

Continue reading on CoinQuora

Uber Eats Accepts Dogecoin, DOGE Price Fails to Recover
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email