- Coinbase Commerce, the e-commerce arm of the US-based cryptocurrency exchange, recently added support for Dogecoin and Shiba Inu.
- Users can now send instant and free Dogecoin and Shiba Inu payments to Coinbase-managed commerce merchants.
- Dogecoin price failed to recover from its slump, posting double-digit losses in a crypto bloodbath.
Coinbase Commerce added Shiba-Inu-themed cryptocurrencies Dogecoin and Shiba Inu to their platform for users. Despite the rise in utility, the Dogecoin price continued its downtrend, posting 10% losses overnight.
Instant and free Dogecoin payments arrive on Coinbase Commerce
Coinbase Commerce announced two significant updates to its platform. Coinbase users can now avail of the exchange’s free and instant payments to merchants in the platform’s network. Also, the exchange announced the addition of seven new cryptocurrencies, Bitcoin, Ethereum, USD Coin, Bitcoin Cash, Litecoin, Dogecoin, DAI, USD Tether, Apecoin, and Shiba Inu.
Merchants are free to manage the cryptocurrencies they are prepared to accept, turn off the ones they don’t wish to accept and choose to hold or auto-convert crypto balances to USD. The platform removes friction and increases the flexibility of crypto payments on both sides of the ecosystem, taking another step towards mainstream adoption of Shiba-Inu-themed meme coins Dogecoin and Shiba Inu.
Dogecoin price plummets 10% overnight
Dogecoin price witnessed a drop despite the spike in the meme coin’s utility. Coinbase Commerce boosted the meme coin’s utility and enabled users to make instant and free Dogecoin payments to merchants on the platform.
Analysts have evaluated the Dogecoin price chart and noted that the meme coin could continue its downward trend towards a 14-month low of $0.049. Analysts noted that the Dogecoin price is still 91.1% away from its all-time high of $0.73 a year ago.
FXStreet analysts believe Dogecoin should be on crypto traders’ watchlists and identified buy signals on the meme coin’s chart. For more information, watch this video:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
Ripple holders' profit taking hits a 19-month high as XRP price shoots up by 42%
XRP price has performed beyond expectations and has marked a multi-month high, restoring confidence in its investors. These holders have also made the most of the situation and turned to sell, which could backfire on the price action soon.
Decentraland Price Forecast: What to expect from MANA as Metaverse Fashion Week kicks off
Decentraland price (MANA) has identified critical support on day one of the Metaverse Fashion Week. The token is trading horizontally on the four-hour timeframe as bulls push to break above a descending trendline.
Ethereum devs confirm withdrawals to begin on April 12; Here's what to expect from ETH price
Ethereum is on the verge of bringing about one of the biggest upgrades to the blockchain since the Merge. The arrival of withdrawals has been anticipated for a long time now, however, it may not be as lucrative for Ethereum price as one might expect.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Market woes threaten bullish potential, XRP is undeterred
Bitcoin has reclaimed above $27,000, but increasing market volatility threatens the leg up. Ethereum faces critical resistance at $1,819 as investor sentiment suggests liquidity issues. Ripple reaches multi-month highs amid lawsuit-related optimism.
Bitcoin: Should you trust this BTC sell signal or wait for $34,000?
Bitcoin price shows a clear picture of its rally after it breached a long-term bullish pattern in mid-January. As the rally takes a breather, sell signs have started to emerge, which is putting investors in a confused state.