Coinbase has finally added support for Dogecoin (DOGE) after years of silence. It will be possible to trade cryptocurrencies on the stock exchange within 2 days.
Coinbase, the most important regulated cryptocurrency exchange and the only publicly traded exchange in the United States, announced that Dogecoin deposits are now available to customers of the Pro platform. Coinbase Pro is a platform developed by Coinbase for professional investors or those with advanced daily trading knowledge. Coinbase Pro's interface - as seen in most crypto exchanges-is more technical and offers its users a wider range of trade pairs.
In addition to Coinbase and Coinbase Pro Services, the company offers other technology solutions such as Coinbase Prime, OTC desk, cryptocurrency wallet, blockchain Intelligence and analytics services, and digital asset storage.
Eventually Listed Dogecoin
Dogecoin trading will begin within three days, assuming everything goes according to plan and the expected minimum liquidity is reached. The Platform had already indicated its desire to list Dogecoin. Still, today's announcement formalized the movement and put the popular meme coin token on the rise.
Dogecoin has grown a lot through 2021. In price terms, it rose to $ 0.74 from $ 0.004 last month, representing a return on investment of more than 16,000 per cent for someone who bought it on January 1 and sold it from the top.
From this peak, a drop of about 50% to its current value makes the cryptocurrency 8,000% profitable in 2021 and one of the best performing currencies in Coinmarketcap's top 100. But despite all the growth, Dogecoin continues to overreact to the announcements. Following the news from Coinbase, the cryptocurrency jumped 6.51% in an hour and positioned itself in the $ 0.346 field.
When we look at the CoinGecko data, Dogecoin has risen by 10% in the last 24 hours. The cryptocurrency was trading at $ 0.372 at the time of writing.