After listing tokens on the professional platform of Coinbase, Dogecoin raises by 20%

Hey Everyone, today we’re going to talk about Dogecoin. Dogecoin, a meme currency based on Shiba Inu, raises by 20% on Wednesday. Apparently, this happened following Coinbase’s announcement that they would list its token on their professional platform.

The Nasdaq-listed company added support for inbound Dogecoin transfers to coin base pro. According to a post, trading will begin on or after 9 am Pacific Time (PT) Thursday, 3 June. But only if liquidity conditions were fine.

The exchange says that “Once sufficient supply of DOGE has been establishing on the platform. Trading going to conduct in three phases, post-only trading, limit-only trading, and full trading.”

You might also know that Coinbase is one of the largest crypto exchanges. The US ranks first on the list. The company listed at $381 on 15th April. However, its shares are now falling and on June 1st, it was at $238.

For active traders, Coinbase Pro is the right platform. On coinbase.com or their app, Dogecoin is not yet available.

Dogecoin Raises

Dogecoin raises 20% or more, according to sources. On CoinGecko, it’s been trading up to 22% higher at $0.39 around 2.45 pm Indian Standard Time. Becoming the 6th largest cryptocurrency in the world, it has a market capitalization of around $51 billion.

Taking a year-over-year look, the token has increased nearly 7000%. The value of Dogecoin went highest up to $0.73 on 8th May. The information came from a tweet posted by Elon Musk.

The dogecoin was created by Billy Markus and Jackson Palmer as a joke in comparison with bitcoin, in 2013 when there’s a huge hype of Crypto and digital assets. A decentralized network is used to transact in this cryptocurrency. It works the same way as Bitcoin. A rising tide of retail investor frenzy has led to its all-time high of $0.73, making it the fourth-largest cryptocurrency in the world. Lastly, it has a market capitalization of $90 billion.

Thanks to Livemint for this information.

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