Crypto developer MyDogeCTO has given good news to Dogecoin (DOGE) investors with a brand new payment method API that will be available to users this week.
The famous developer announced a new feature this week that can increase the price of Dogecoin
One of the senior developers, MyDogeCTO, has introduced a new Application Programming Interface (API) where Dogecoin can be accepted as a payment method anywhere in the world. APIs are mechanisms that allow two software components to communicate with each other using a set of definitions and protocols. For example, the meteorological directorate stores daily weather data. The weather app on your phone “talks” to this system via APIs and shows you the daily weather updates on your phone.
According to the announcement, the name of the new tool will be “MyDogeMask API”. The developer also provided screenshots of a protocol demo that appears to be designed as a browser extension typical for the MyDogeMask API and most dApps:
Soon any website can accept Dogecoin payments directly from browsers with MyDogeMask API. Going live as soon as next week! pic.twitter.com/O3jcZZ4lzV
— MyDogeCTO (@MyDogeCTO) January 28, 2023
Despite being seen as a meme coin, the Dogecoin team continues to work to make the token more efficient and usable. In the continuation of the tweet, developer MyDogeCTO also shared that while waiting for the upcoming launch of the API, the protocol will reward developers with DOGE for bugs there.
How about the Doge price? What’s next?
Dogecoin was trending on Twitter on the morning of January 29. In fact, there has been a marked rise in the social volume metric. As Cryptokoin.com reported, this momentum may be linked to Elon Musk’s new tweet. In the tweet, Musk repeated his offer to eat a hamburger on a national channel if Dogecoin was accepted as a payment method by McDonald’s.
This tweet quickly resonated on social media, with many speculating about the potential impact of the tweet on price. Interestingly, even the McDonald’s team participated in this activity, further fueling speculation.
I will eat a happy meal on tv if @McDonalds accepts Dogecoin
— Elon Musk (@elonmusk) January 25, 2022
Also, the number of long positions in Dogecoin continued to increase significantly. According to data from Coinglass, the number of long positions made by top traders increased from 71% to 77% last month.
This implies that most investors are extremely optimistic about DOGE’s future.
Also, miners’ interest in Dogecoin is increasing, according to hashrate metrics. This increased hashrate can potentially lead to increased stability, as it is a well-known fact that more miners provide more computational power to secure the network.
DOGE price analysis
After a productive weekend, Dogecoin (DOGE) started the new week down around 3%. In current moves, its price is in the middle of the channel between the $0.08826 support and the $0.091 resistance.
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