Coinbase has finally added support for Dogecoin (DOGE) after years of silence
Coinbase has finally added support for Dogecoin (DOGE) after years of silence. Within 2 days, it will be possible to trade with cryptocurrencies on the stock market.
Coinbase, the leading regulated cryptocurrency exchange and the only publicly traded exchange in the United States, has announced that Dogecoin deposits are now available to customers of its Pro platform. Coinbase Pro is a platform developed by Coinbase for professional traders or those with advanced day trading knowledge. Coinbase Pro’s interface – as seen with most crypto exchanges – is more technical and offers its users a wider range of trading pairs.
In addition to its Coinbase and Coinbase Pro services, the company also offers other technology solutions such as Coinbase Prime, OTC desk, cryptocurrency wallet, blockchain intelligence and analytics services, and digital asset custody.
Finally Listed Dogecoin
Dogecoin trading will begin in three days, assuming everything goes according to plan and the expected minimum liquidity is reached. The platform has already indicated its desire to list Dogecoin. Still, today’s announcement made the movement official and put the popular meme-coin token on the rise.
Dogecoin has grown tremendously throughout 2021. In terms of price, it went from $0.004 to $0.74 last month, which represents an ROI of more than 16,000% for someone who bought on Jan 1 and sold at the top.
A nearly 50% drop from that peak to its current value makes the cryptocurrency 8,000% profitable in 2021, making it one of the best performing coins in Coinmarketcap’s top 100. But despite all the growth, Dogecoin continues to overreact to the announcements. Following the news from Coinbase, the coin pumped 6.51% in an hour and positioned itself in the $0.346 area.
When we look at the Coinecko data, Dogecoin has increased by 10% in the last 24 hours. The cryptocurrency was trading at $0.372 at the time of writing.