Dogecoin trading volume reaches its lowest level since 2017 despite increasing acceptance

Dogecoin adoption has increased this week, and Robinhood said it will be rolling out a new crypto wallet feature on its app next month that will support DOGE deposits and withdrawals.

Dogecoin co-founder Billy Markus (no longer working on the project) has explain via twitter today this:

Ok, now we’re allowed to overreact, Robinhood Wallet is big news for Dogecoin – it opens up the real benefits of cryptocurrency to so many users!

In addition, the real estate tokenization platform RedSwan also accepts meme coins.

On September 22nd, the real estate crypto platform RedSwan notification will accept Dogecoin for two digital real estate transactions on its marketplace. The company offers partial ownership of two high-rise apartment buildings valued at $ 384 million.

Two digital real estate transactions called APLO and LHOK require a minimum investment of $ 1,000 – around 4,447 DOGE at the time of writing – and offer the target investor an internal return of 26% and 19% annually, respectively.

On the same day, the CEO of AMC film giant Adam Aron conducted a survey as to whether ticket payments in Dogecoin should be accepted by the end of 2021. Of the four options, “Yes, definitely” received 68.1% of the vote.

Dogecoin godfather Elon Musk has emphasize meaning of the DOGE transaction fee reduction in a tweet yesterday:

“Reducing Doge fees is critical to making things like buying movie tickets possible.”

Low trading volume

Despite a strong hype during the week, DOGE’s trading volume has fallen to an unprecedented low since December 2017.

According to Bit Info Charts, the number of DOGEs traded daily fell to the 16,000 mark for the first time in four years. This number is in stark contrast to the DOGE mania that hit the crypto market in April of this year, leading to a 24-hour trading peak of 140,000.