The latest cryptocurrency to make the news is Dogecoin. Earlier this week, the Dogecoin community took a break from the usual “crypto news” posts, and instead decided to see what the hype was all about with the new Bitcoin-based cryptocurrency Coinbase Pro. Why did they decide to do this? The simple answer is that the news is all over Twitter (yes, even the top coin is now on Twitter).
In the first month of the year, Dogecoin surged by 40% against the USD, and it has continued to increase in the last few days. The initial surge was due to the addition of the cryptocurrency to Coinbase Pro, and the reaction to the news that followed. The rising price coincides with a surge in usage of Dogecoin-based services and products.
Dogecoin surged in price by about 40% yesterday, after Reddit user u/DUhVrUbX posted an image on r/Dogecoin to announce that the long-awaited Coinbase Pro service was now live. “Coinbase Pro enters the market today, allowing users to buy, sell, send and receive digital currency using their existing bank account in the US or EU,” the post reads. “Dogecoin is a form of cryptocurrency that is based upon the Doge meme. It was originally posted on 2 December 2013 and was created by Billy Markus from Portland, Oregon (USA), who wrote the original coding.”. Read more about does coinbase support dogecoin and let us know what you think. The crypto meme Dogecoin (DOGE) soared more than 40% early Tuesday morning after its listing on Coinbase Pro and a new flurry of tweets from self-proclaimed DOGE spokesman Elon Musk. On Monday, Coinbase announced the addition of Dogecoin to its Coinbase Pro platform for professional traders, fueling a wave of activity for the coin. DOGE’s share price is down 59% month-on-month, following a market collapse in early March. On Tuesday, the price of the coin jumped from $0.3137 to $0.4398 within hours of Coinbase’s announcement, resulting in a 40% increase overnight. Coinbase is now accepting incoming deposits with the expectation that Dogecoin exchanges will begin on Thursday, subject to sufficient liquidity. Trading will begin on five trading pairs: DOGE/USD, DOGE/BTC, DOGE/EUR, DOGE/GBP and DOGE/USDT. On Tuesday, Tesla’s Musk may have given DOGE an extra boost by posting another meme about Dogecoin. This time, the meme showed the eponymous dog atop a 1980s computer, accompanied by a caption: I must hide my passion from the public or I will be socially ostracized. I found this picture of me as a kid pic.twitter.com/hUEKluRAdP – Elon Musk (@elonmusk) June 2, 2021 Musk also retweeted an old Dogecoin meme he first tweeted in 2020, which shows a dog zipping around the world as it replaces the existing financial system. In between Dogecoin and Bitcoin (BTC) price movements, Musk was also careful to remind his 56 million subscribers that he is not officially affiliated with the project in any way and that his ability to make changes is limited.Dogecoin is a cryptocurrency named after the Japanese dog Shiba Inu meme that surged 40% over the last 12 hours thanks to a tweet by Tesla and SpaceX CEO Elon Musk. The cryptocurrency is trading at $0.0041 as of this writing, up 40.88% over the last 24 hours. It gained 10.75% in the last week alone.. Read more about is coinbase pro free and let us know what you think.
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