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BitPay Allows Merchants to Accept Dogecoin for Payment

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BitPay allows businesses to accept cryptocurrency as a payment form without having to buy, own, or manage cryptocurrency. Dallas Mavericks have been one of the first to adopt cryptocurrency, and now is the first again to accept Dogecoin. For almost 2 years, the Dallas Mavericks have been accepting bitcoin as a way to pay for game tickets and merchandise. Mavs Fans for Life (MFFL) can now use Dogecoin to buy tickets and merchandise online, making Mavs merchandise more accessible to MFFL.

Mavs use BitPay to process all purchases, including tickets and goods paid by the leading cryptocurrencies: BTC, ETH, USDC, GUSD, BCH, PAX and BUSD, and now DOGE. The ability to accept cryptocurrencies expands the business opportunities for sales in international markets where accepting credit cards is impractical, while reducing high fees and increasing the transparency and efficiency of payments. The potential global market is huge, and with cryptocurrency market caps approaching a trillion, market opportunities for cryptocurrencies are considered ideal.

BitPay creates powerful enterprise-grade tools for accepting and using cryptocurrency. FinTech is developing blockchain payment technology to change the way businesses and people around the world send, receive and store money. BitPay recently announced support for adding the BitPay card to Apple Pay.

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Elon Musk Says He Will Become First Dogecoin Trillionaire

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The Tesla CEO says that he will become the world’s first trillionaire in Dogecoin

Tesla CEO Elon Musk claims that he will become the world’s first Dogecoin trillionaire in a recent tweet. 

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Musk’s net worth has now swelled to $249 billion, according to the Bloomberg Billionaires Index. 

The entrepreneur is now worth more than the gross domestic product of New Zealand (and he’s close to surpassing Portugal).

His wealth has increased thanks to the renewed Tesla rally. The shares of the leading e-car maker hit a new all-time high of $910 earlier today.

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Morgan Stanley predicts that Musk is on track to become the world’s first trillionaire thanks to SpaceX. 

In July, Musk revealed that he personally owns Bitcoin, Dogecoin and Ether. 

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Dogecoin Price Prediction: DOGE poised for 64% breakout if this key level breaks

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  • Dogecoin price looks ready for a 64% climb as it moves higher toward the upper boundary of the symmetrical triangle pattern.
  • A break above $0.269 could put the bullish target of $0.435 on the radar.
  • DOGE may discover a strong foothold at $0.242 if selling pressure spikes.

Dogecoin price is preparing for a 64% rally, but the dog-themed token has one last hurdle to overcome before the bullish target is in the offing. DOGE must climb above the descending resistance trend line that has acted as a headwind for the token since June 3. 

Dogecoin price to clear one last barrier

Dogecoin price has formed a symmetrical triangle pattern on the daily chart as the bulls catch their breath. While DOGE consolidates, the token is supported by a few significant technical indicators, suggesting that the token is poised to aim higher.

The prevailing chart pattern suggests a 64% climb for Dogecoin price if the token manages to slice above the upper boundary of the technical pattern at $0.269. Before the bulls can anticipate a bull run toward the optimistic target, DOGE would also need to conquer the nearest resistance at 50% Fibonacci retracement level at $0.255.

If a spike in buying pressure occurs, and Dogecoin breaks above $0.27, DOGE would be met with another obstacle at the 61.8% Fibonacci retracement level, coinciding with the 200-day Simple Moving Average (SMA) at $0.277. 

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Additional hurdles may emerge at the 78.6% Fibonacci retracement level at $0.310, then at the August 16 high at $0.351 before eventually reaching the aforementioned bullish target at $0.435.

DOGEUSDT

DOGE/USDT daily chart

Given that Dogecoin price is still trapped in a consolidation pattern, DOGE could still oscillate within the governing technical pattern until a decisive move toward the upside, accompanied by a surge in buy orders. Until then, the dog-themed token may be exposed to minor sell-offs, in which case the nearest foothold at the 100-day SMA at $0.242 will act as substantial support. 

Adding credence to the strength of this support level is IntotheBlock’s In/Out of Money Around Price (IOMAP), indicating that 80,240 addresses purchased 14.73 billion DOGE at an average price of $0.242. 

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DOGE IOMAP

DOGE IOMAP

Additional lines of defense will appear at the 20-day and 50-day SMAs, which sit at $0.238 before dropping lower toward the 38.2% Fibonacci retracement level at $0.233. Only a rise in selling pressure would see Dogecoin price tag the lower boundary of the triangle at $0.213. 

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Dogecoin Forecast and DOGE/USD Analysis October 22, 2021

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DOGE/USD are traded at 0.2460 and continue to move within the correction and the bullish channel. Moving averages indicate a short-term bullish trend for Dogecoin. Prices are testing the area between the signal lines again, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 0.2345 area. Where can we expect a rebound again and a continuation of the rise in the Dogecoin rate with a potential target above the level of 0.3205.

Dogecoin Forecast and DOGE/USD Analysis October 22, 2021

In favor of the growth of DOGE/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 0.2105 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 0.1745. With the breakdown of the resistance area and closing of quotations above the level of 0.2845, we should expect confirmation of the development of a bullish trend in Dogecoin, which will indicate a breakdown of the upper border of the ”Triangle” model.

Dogecoin Forecast and DOGE/USD Analysis October 22, 2021

Dogecoin Forecast and DOGE/USD Analysis October 22, 2021 therefore imply an attempt to correct and test the support area near the 0.2345 level. Where can we expect a rebound and continued growth in DOGE/USD to the area above the level of 0.3205. An additional signal in favor of a rise in Dogecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.2105 area. This will indicate a continued decline in cryptocurrency with a target below 0.1745.

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