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Cryptocurrency exchange Coinbase has finally listed Dogecoin after the cryptocurrency recorded over 6,000% gain since the start of the year.
DOGE now on Coinbase Pro
One of the popular cryptocurrencies this year is Dogecoin (DOGE). Promoted by the likes of Elon Musk, Dogecoin’s popularity surged higher as it became the number one meme cryptocurrency for millions of people. Its massive rise this year led to an influx of other meme coins such as Shiba Inu, all looking to take advantage of the hungry market created by Dogecoin.
Coinbase is one of the leading crypto exchanges in the world. Unlike Binance, one of its major competitors, Coinbase is known for taking its time to analyze a coin before listing it. The crypto exchange has finally listed DOGE on its Coinbase Pro platform.
Starting yesterday, June 1, Coinbase Pro is offering its users the option to trade Dogecoin. In its blog post, Coinbase said, “Starting immediately, we will begin accepting inbound transfers of DOGE to Coinbase Pro. Trading will begin on or after 9 am Pacific Time (PT) Thursday, June 3, if liquidity conditions are met.”
Coinbase listing comes after a 6,000% rise in profit
Coinbase is late to the party in terms of listing Dogecoin. The cryptocurrency is available on numerous leading crypto exchanges, including Binance, Gemini, KuCoin, Bitfinex and others. Coinbase is listing the coin after its price surged by more than 6,000% since the start of the year.
At the start of the year, DOGE was trading at $0.004997. However, it went on a massive bull run that saw its price reach an all-time high of $0.7236 on May 7. The rally saw DOGE’s price increase by 6,000% within five months.
While the market correction has seen its price decline by roughly 50% to currently trade at $0.37 per coin, it is still up by over 4,000% year-to-date, making it one of the best investment vehicles so far in 2021.
Coinbase’s listing saw DOGE’s price go up by 14% over the past 24 hours, surpassing XRP to becoming the sixth-largest cryptocurrency by market cap. Dogecoin’s popularity could continue to increase as Elon Musk has teased with the idea of Tesla accepting the cryptocurrency as a means of payment. Only a few cryptocurrencies are as intriguing as Dogecoin at the moment!
This article was originally posted on FX Empire