Dogecoin and AMC entertainment union has a blessing from Elon Musk

Dogecoin Doge
Photo by Executium on Unsplash

Key takeaways:

  • Elon Musk approves a collaboration with AMC entertainment, which is nothing more than wishful thinking from a youtuber.
  • Dogecoin daily charts stagnant.
  • New real-life partnerships for Doge.

Yerevan (CoinChapter.com) – Dogecoin (DOGE) has not seen active price movement in days. However, the meme-coin has found new friends like Burger King Brazil and AMC Entertainment. Random as it may sound, Elon Musk blessed the union and got the Dogecoin community excited about upcoming gains.

In a surreal comparison, Steven Steel, a youtube with a vast following, suggested that Dogecoin and AMC collaborate. As a response, Elon Musk liked the suggestion, albeit not commenting anything else.

Indeed there is no real action towards the union, but the possibility is enough for the Dogecoin community to run on. Retweets and excited memes followed while the Doge holders hoped for some green candles. The daily chart didn’t budge.

Also read: Here’s why a veteran analyst called Dogecoin a “double-headed monster.”

Dogecoin daily chart

The Shiba-Inu-inspired meme-coin has seen better days than the past few days, with DOGE’s stagnant value of around $0.20. However, the price action kept moving sideways, consolidating close to the 20-day exponential moving average (EMA-20) and unable to retest it as support.

Dogecoin in a sideways movement. Source: DOGEUSD on TradingView.com
Dogecoin consolidating around $0.20. Source: DOGEUSD on TradingView.com

DOGE did manage a 20 percent advance since July 21 and started to adopt a bullish momentum following Bitcoin’s passage. The copycat rally was short-lived, and high hopes for the bullish explosion went up in smoke. However, Dogecoin is wagging its tail at some other positive news this week.

Also read: The Elon Musk-led Dogecoin rally returns as DOGE jumps 15%

Another fun collaboration

Taking all the virtual fun into an actual dimension, Dogecoin collaborated with another unlikely candidate, Burger King Brazil. As a result, the fast-food chain will be accepting DOGE payments from now on.

The meme-coin community got excited immediately, and David Gokhshtein, a Brooklyn politician, suggested Mcdonald’s should follow suit.

Will fast-food collaborations bring much wow to Doge? Who knows. If the meme coin hopes to get some bullish price action soon, maybe Elon Musk could help his pet crypto by commenting and tweeting. After all, tweets from the dogefather have proven to be a fast route to some green candles.

The latest example being the “Neo” tweet from Mr. Musk, which led to a sharp 15 percent spike on July 25, albeit without continuous bullish results.

Even positive feedback from Coinbase Commerce on July 22 wasn’t enough to keep the Doge’s chin up.

Dogecoin faced a dull few days. After managing a 20 percent advance following the Bitcoin example, the meme-coin price action consolidated around the EMA-20, at the value of $0.20. However, there are new collaborations for Doge bulls to be happy about. For example, Burger King Brazil and Coinbase Commerce. Partnership with AMC entertainment is still more speculation than fact.

Also read: 3 crypto assets that beat Dogecoin in 2021 without Elon Musk’s help.

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