Dogecoin price, which ranks sixth in total market capitalization, jumped by 15% in the last 24 hours after Coinbase Pro announced its support for currency trading.
Coinbase officially announced yesterday that Dogecoin cryptocurrency transfers and deposits are now available in the company-backed jurisdictions.
According to the “Coinbase” announcement, Dogecoin trading will start today, June 3, 2021, at 1 am UTC, according to liquidity conditions.
Dogecoin is currently trading at $0.402057with, a market capitalization of over $49.2 billion.
According to the Coinbase
Starting from this moment, we will begin accepting deposits from Dogecoin to Coinbase Pro.
Trading will begin at 9 am PST on Thursday, June 3, if the liquidity conditions are met.
Once a sufficient DOGE has been established on the platform, the following order books will be released:
In three stages.
Regardless of the recent announcement regarding the inclusion of Dogecoin, Coinbase Pro listed the digital stable coin Tether (USDT) in April 2021.
Dogecoin in 2021
Dogecoin experienced significant growth in 2021 in terms of price and adoption.
Several companies worldwide, including basketball club Dallas Mavericks and airBaltic from Latvia, have started accepting Dogecoin as a payment method.
In terms of price, the digital currency has remained significantly volatile this year, with the price of the sixth largest cryptocurrency in the world reaching $0.72 and a low of $0.26 within two weeks of May 2021.
Commenting on Dogecoin’s recent volatility, Brian Brooks, former acting USOCC and current CEO of Binance, said:
What we don’t want is to panic about Dogecoin prices.
Dogecoin is now more valuable than many other leading cryptocurrencies, including Ripple, Polkadot (DOT), (LINK), and Bitcoin Cash.
Elon Musk supported this move since March
Musk was voted the CEO of Dogecoin in a 2019 Twitter poll, but he previously said that not all of his tweets regarding Dogecoin should be taken seriously.
Now and then, I make jokes about Dogecoin, but they are meant to be jokes. Dogecoin was created as a joke to ridicule cryptocurrencies.
Dogecoin’s adoption was boosted by Musk’s various tweets and the support of celebrities, such as Shark Tank star Mark Cuban. Bitpay recently added DOGE to its list of supported cryptocurrencies, and a growing number of crypto ATMs now support Dogecoin.
The NBA’s Dallas Mavericks were accepting Dogecoin for tickets and merchandise through Bitpay. On March 6.
The Dallas Mavericks has processed over 20,000 Dogecoin transactions, making us the largest Dogecoin trader in the world.