The popular meme token and the most valuable crypto asset by market value Dogecoin is enjoying significant buying pressures amid its listing on the world’s most valuable crypto exchange. Following the news from Coinbase Pro, the DOGE Price had a 6.51% pump in one hour, trading at $0.346.
Major development strikes Dogecoin. CEO Brian Armstrong had previously mentioned dogecoin as one of the most popular cryptocurrencies, as well as the company’s plans to list the currency in six to eight weeks.
Starting today, inbound transfers for DOGE are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday June 3, if liquidity conditions are met. https://t.co/sFYODy4Xma
— Coinbase Pro (@CoinbasePro) June 1, 2021
According to the exchange, it will immediately start accepting inbound transfers and highlighted that if liquidity conditions are met, users could place the DOGE listing into their professional trading accounts. Once conditions are met, traders will be able to exchange their DOGE for BTC and the USDT stablecoin. They have also enabled fiat pairs against USD, EUR, and GBP.
Howevere, there is no information, if Coinbase will add Dogecoin to individual investor platforms and mobile apps in the future. Coinbase is typically added to the retail platform a few weeks after the new coin is listed on the professional platform.
DOGE Price Analysis
Dogecoin is now the sixth-largest Cryptocurrency according to coingecko with a Market Cap of $47 billion. It is currently trading at $0.370954. DOGE price is up 11.8% in the last 24 hours. The Dogecoin Price is now testing the USD 0.370 level. Any more gains could possibly open the doors for a move towards the USD 0.400 level. On the downside, the USD 0.350 level is a decent support zone.
Overall. Crypto experts say the recent inclusion of the digital asset on Coinbase is likely to boost the value and usage, taking into consideration the crypto exchange’s boast of being the most powerful institutional entity in the crypto-verse.