Dogecoin, the world’s best-known memecoin, has gained an additional measure of credibility, with crypto exchange Coinbase announcing that it will add DOGE to its professional trading platform. According to a Coinbase blog post, trading in the canine-inspired coin will begin at 9 a.m. U.S. Pacific Time on June 3, if liquidity conditions are met.
- DOGE’s price spiked more than 20% to US$.038 in the 24 hours following the announcement, and the coin was trading at US$0.36 at press time.
- Coinbase normally adds cryptocurrencies to its retail platform after they have been listed on its professional platform for a few weeks,.
- Based on a popular meme of the time, DOGE was created in 2013 as a joke aimed at Bitcoin, but thanks to boosts by well-known holders such as Elon Musk and rapper Snoop Dogg, its value has skyrocketed in value this year — up 12,000% from January to May before crptos across the board crashed last month. It is currently the sixth-largest cryptocurrency, with a market cap of US$48 billion.
