DOGE now on Coinbase Pro
US-based cryptocurrency exchange Coinbase is known for taking its time to properly analyze a coin before listing it on its platform. The latest cryptocurrency to join its trading platform is Dogecoin, with the meme coin performing excellently since the start of the year.Coinbase announced yesterday that its Pro users could trade DOGE starting Thursday. In its blog post, Coinbase said, “Starting Today Tuesday, June 1, transfer DOGE into your Coinbase Pro account ahead of trading. Support for DOGE will generally be available in Coinbase’s supported jurisdictions. Trading will begin on or after 9 AM Pacific Time (PT) Thursday, June 3, if liquidity conditions are met.”
DOGE is not available on Coinbase’s main website or its consumer mobile apps. The cryptocurrency exchange said it would issue a separate announcement if and when it adds support for DOGE on its main site and mobile apps.
DOGE’s Coinbase listing comes after a 6,000% gain this year
Dogecoin is one of the most popular cryptocurrencies in the market, thanks to its astronomical rise in value over the past few months. Since the start of the year, DOGE’s price surged by roughly 6,000%, to reach an all-time high of $0.73 per coin.Its price is down by roughly 40% following the recent market correction. However, Coinbase’s announcement has seen DOGE’s price increase by 30% over the past 24 hours, becoming the best-performing cryptocurrency amongst the top ten. DOGE has also surpassed XRP and is now the sixth-largest cryptocurrency by market cap.
Dogecoin’s performance was partly influenced by the adoption of popular figures like Elon Musk. The Tesla CEO also teased that the electric car manufacturer could accept DOGE as a payment method for its vehicles.
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