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Ferrari, which has been making cryptocurrency-friendly developments as part of its recent operations, has made a new announcement. After launching payments with Bitcoin, Ethereum, and USD Coin in the United States, the Italian luxury car manufacturer has decided to add Dogecoin to the list of cryptocurrencies it will accept as payment for luxury cars and goods in the United States. This news marks a positive development in terms of DOGE pricing. On Tuesday, Dogecoin was trading at $0.088 (about Rs. 7.30), reflecting a 2% gain.

Enrico Galliera, Ferrari’s chief marketing and commercial officer, reportedly revealed this new development in an interview this week. Galliera said the main reason Ferrari now allows DOGE payments is to comply with requests from customers and dealers.

The news received a positive response from members of the international cryptocurrency community, with several posts featuring X.

Ferrari does not plan to charge additional fees or costs to people who purchase cars through cryptocurrency. BitPay has been chosen by Ferrari as its payment gateway to process cryptocurrency transactions in the United States. The BitPay app allows merchants to accept cryptocurrency payments and convert them to fiat for Ferrari dealers in the United States.

As far as Dogecoin is concerned, Memecoin has remained stable over the past few months. There has been no recent record of significant price increases, nor has DOGE fallen sharply. Over the past seven days, Doge’s value has increased by more than 5%. The 10th largest cryptocurrency by market capitalization is currently worth $12.44 billion (approximately Rs. 1,03,205 crore).

Cryptocurrencies are also used as a payment method by luxury brands such as watch manufacturer Tag Heuer and clothing manufacturer Gucci. US-based movie theater chain AMC Theaters also accepts Dogecoin as a payment option for movie tickets.

The most recent development that caused the price of Dogecoin to skyrocket was in August 2023, when Elon Musk, an ardent supporter of Dogecoin, obtained a currency transmitter license for X. This license grants the company the right to facilitate the storage, transfer and exchange of digital currencies. . At that time, DOGE was trading at $0.066 (about Rs. 5.42), a 3% increase in price.

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