Dogecoin is in the headlines for all the right reasons yet again. Yesterday, Huobi, the veteran crypto exchange, announced that it will be listing Dogecoin on its platform. Continuing further, the exchange declared that users would be able to trade Dogecoin in 3 pairs – DOGE/USDT, DOGE/BTC, and DOGE/ETH.
Moreover, it was only recently on April Fool’s day that the meme coin had experienced a noteworthy surge in price, although, in the meanwhile, it did correct its bitcoin peg. If you consider the history of this joke currency, it has fallen between the range of 50 and 100 Satoshi per token. In fact, Dogecoin has even reached the highs of two to three hundred at times.
The cryptocurrency, which was introduced in 2014 and has Jackson Palmer as its creator, is not only traded widely but also utilized in multiple places including those that accept Litecoin, Ethereum, and Bitcoin. These places include payment processors and gambling sites. Dogecoin is counted among those rare oldest cryptos which have reasonable hashrate.
Dogecoin Takes a Leap
In its official statement, Huobi stated that in order to offer its customers high-quality and carefully vetted trading options, the exchange is extending support to Dogecoin on its marketplace. The announcement implies how Huobi believes Dogecoin to be of “high-quality.”
Huobi made its decision public post April Fool’s day so that people don’t take it as yet another Fools’ joke. While there are many who still see this particular crypto as nothing but a joke, it must be noted that the meme-based Dogecoin has been successfully maintaining a great degree of trading platforms as well as liquidity.
The Many Places Where Dogecoin Can Be Traded
Other than Huobi, there a number of exchanges such as gate.io, Bittrex, and BitForex that facilitate the trading of Doge against the fiat stablecoins. As a result, it becomes easier for traders to gauge this crypto’s fiat value. Doge’s trading, as well as withdrawals on Huobi Global and Huobi.com, was meant to start at 7 PM of the Pacific Standard Time.
At the start of this month, Elon Musk, CEO of Tesla, had put Dogecoin in the limelight as he declared the joke currency as his favorite crypto on the micro-blogging site. Elon’s choice might also have to do something with the fact that Palmer had helped him in dealing with the Twitter scams previously. However, Elon’s tweet was a response to Dogecoin’s tweet that humorously said how it needed a CEO and went on to elect him as one.
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019