In a blog post, Coin base announced that it has “immediately” started sending incoming transfers from. to accept Dogecoin on its pro trading platform, Decrypto.co reports.
Trading in the token will begin on Wednesday June 3rd at 9:00 a.m. PT in three phases: post only, limit only, and full trading. The transactions depend on whether the exchange has enough liquidity in the token.
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Dogecoin is the seventh largest cryptocurrency with a market cap of $ 43.7 billion and has been worth less than a dime for most of its existence. In 2013, the Shiba Inu-themed token was developed as a humorous alternative to Bitcoin. But once the CEO of Tesla, Elon Musk and the owner of the Dallas Mavericks, Mark Cuban, have touted the cryptocurrency for its transaction capabilities.
The token has also benefited from the growing popularity of cryptocurrency trading on apps like Robinhood. Overall, Dogecoin is up 6,000% this year.
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Coinbase will list DOGE against Dollars, Euros, British Pounds, Tether and Bitcoin. The list could help the token’s growth dramatically as Coinbase is the leading exchange for US cryptocurrency traders and is in the top 5 by trading volume.
The exchange currently only offers DOGE on Coinbase Pro, which is designed for more experienced traders, not their main website or consumer mobile app.