On Tuesday, Coinbase, one of the most popular regulated cryptocurrency exchanges in the United States of America, announced that it will be adding Dogecoin (DOGE) to its professional trading platform […]
On Tuesday, Coinbase, one of the most popular regulated cryptocurrency exchanges in the United States of America, announced that it will be adding Dogecoin (DOGE) to its professional trading platform (Coinbase Pro).
According to a blog post on Coinbase official website, if all goes as planned and the liquidity is met, the trading of DOGE on Coinbase Pro is expected to start on Thursday, which is three days from Tuesday after the announcement was made. However, the exchange users can start moving their DOGE to their professional trading accounts as they wait for the trading to start.
And although Coinbase did not mention any plans of adding DOGE to its retail trading platform, the exchange normally adds digital currencies to its retail trading platforms a few weeks after it lists them on the professional trading platform.
Dogecoin price spikes following the listing announcement
Following the announcement, DOGE saw a 14% rise to trade at $0.3782 by the time of writing this post.
If all goes as exempted, Coinbase users will be able to exchange their DOGE for BTC or USDT stable coin and also trade DOGE fiat pairs of EUR, GBP and USD.
2021 has seen Dogecoin grow in the global cryptocurrency ranking
Dogecoin price has risen from about $0.004 to trade above $0.3 having attained an all-time high of $0.7376 on May 08, 2021. It is one of the best performing cryptocurrencies and it currently sits at position 6with a market cap of $48,659,821,449.67.
It has outperformed the likes of XRP, Bitcoin Cash and Steller.
However, despite Dogecoin’s growth, the digital currency remains highly volatile as it is highly affected by memes, announcements and tweets from billionaires like Elon Musk.