Launched in 2013 as an alternative to Bitcoin and other influential cryptocurrencies, Dogecoin (DOGE) has witnessed a tremendous rise in its fortunes in recent times. The cryptocurrency that was initially written off by cryptocurrency experts and laughed at by many due to its meme heritage is counted among today’s prominent digital coins. It has got a shot in its arm in 2021, and thanks to the support coming from Elon Musk, the owner of Tesla and SpaceX, Dogecoin has been on a roll for quite some time. Although it has also got its share of lows, the overall momentum seems to be on its side, with its current value hovering around $0.37, up by 10.32% in the last 24 hours.
The new development, which will mark the listing of Dogecoin on the Coinbase Pro, is expected to enhance its market value further. According to the official press release of Coinbase, the cryptocurrency exchange will start offering support for the DOGE on Coinbase Pro from June 3, 2021. The trading will commence, provided the liquidity condition of the platform is met.
The pairs available for the trading include DOGE-USD, DOGE-EUR, DOGE-BTC, DOGE-USDT, and DOGE-GBP, and investors can access these pairs in three separate phases – post-only, limit-only, and Full-Trading. It is also important to note that cryptocurrency exchange reserves rights to extend these phases or even suspend the trading process if at any point in time it feels that the trading is not happening according to the rules and regulations.
The launch of the Coinbase Pro will have a positive impact on the market value of Dogecoin. It will help the cryptocurrency to expand its appeal and prominence among a wider set of investors. Trading on a credible platform such as Coinbase Pro ensures the investors about the safety and security of their investment while providing them access to a wider range of cryptocurrency assets. Dogecoin, by its listing on the exchange, will get an opportunity to come in the reference domain of the investors and subsequently find favor with them.