Over the past 24 hours, DOGE has grown by 34% and is trading at $ 0.43. Altcoin capitalization, according to CoinGecko, has reached $ 55.6 billion. The growth of the digital coin comes in anticipation of its listing on the Coinbase Pro cryptocurrency exchange, which will take place on June 3, if the conditions regarding liquidity are met. From June 1, the transfer of the asset to the platform is available.
Clients will be offered the following trading pairs: DOGE / USD, DOGE / BTC, DOGE / EUR, DOGE / GBP and DOGE / USDT.
As for the ability of the exchange’s clients to trade a large number of assets on its electronic platform, according to the announcement that appeared on the Coinbase blog, under the terms of the listing, over time, it will begin to support more assets that meet its standards. Although it has not yet announced an exact timeframe.
Dogecoin will take some time to unfold in full. The platform will launch trading in three stages: placement only, limit and full trading. Coinbase warned that if, at some stage, the exchange decides that trading “doesn’t meet the assessment of a healthy and orderly market”, it will either suspend trading or delay the transition to the next stage.
While the blog post didn’t announce whether Coinbase will add cryptocurrency to its retail trading platform and mobile app. A publicly traded crypto exchange usually adds cryptocurrencies to its retail platform a few weeks after first included in the pro version.
Elon Musk’s comments on DOGE listing
The announcement of an altcoin listing on Coinbase Pro commented on Twitter Tesla and SpaceX CEO Elon Musk. He attached his post dated July 18, 2020. It depicts a comic cryptocurrency taking over the global financial system. The businessman signed the picture with the words: “This is inevitable”. Musk later posted another picture of the dog, adding the caption: “Found a photo of myself as a child”.
Earlier, speaking on a TV show, Musk called the altcoin “wiring”. And a couple of days later announced that this cryptocurrency would be used to pay for the launch of a satellite to the Moon.
Speaking about the currency that appeared on the Coinbase platform – Dogecoin (DOGE), we note that it was created in 2013 as a joke. However, thanks to the support of the American entrepreneur Elon Musk, the coin rate is showing extremely positive results. At some point during the market frenzy, the liquidation of DOGE surpassed Bitcoin (BTC). Highlighting the strong demand for the asset. Twitter activity associated with DOGE also briefly surpassed the flagship crypto asset at the start of the year.
Growth of quotations
Rumors that DOGE trading will be available on the Coinbase platform surfaced a few weeks ago.
Against the background of the growth of Dogecoin, quotes and clones of the coin increased. Shiba Inu, which developers position as the “Dogecoin killer”, grew by 11% in 24 hours. The price of another digital coin with a logo depicting a dog – Akita Inu – has risen by 6% in a day. Canadian electric vehicle company Daymak recently announced that the new Spiritus will add BTC and DOGE mining capabilities. The car will be released in 2023.