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Saturday, July 2, 2022

Dogecoin Shot Up 30% After Listing on Coinbase Pro

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The price of Dogecoin skyrocketed 30.53% on the session of Wednesday. DOGE surged after cryptocurrency exchange platform Coinbase disclosed it will start accepting inbound transfers of the joke token.  Dogecoin has also garnered attention because of the support from Tesla (TSLA) chief Elon Musk. Coinbase Pro is the platform that is pitched toward professional traders and including DOGE there opens up the cryptocurrency to its serious traders.

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The coin is anticipated to go live over the next three days once a least the minimum level of liquidity has been accomplished. Inbound transfers are live from today. Once live, DOGE will be able to be traded against BTC, USDT, USD, EUR, & GBP.

The price further surged after the tweet of Elon Musk. Elon Musk took to Twitter and shared an illustration. The illustration depicts that DOGE becoming the standard currency in the global financial system. Dogecoin is now graded in the 6th position as it currently owns a massive $51.15 billion market capitalization.

Coinbase disclosed that one of the most common requests it got from customers is to be able to trade more assets on its platform. Researcher analyst Michael Stark stated that the listing of dogecoin on Coinbase has increased reaction. However, the important driver behind the upsurge in buying today is Elon Musk‘s tweet of a meme. The tweet suggested that Dogecoin’s takeover is ‘inevitable’.

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