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- Dogecoin’s price is soaring to achieve new highs, as the digital currency has been listed on Coinbase Pro
- The listing of DOGE Coinbase’s exchange has tended its price to fly impressively
- Coinbase’s announcement clarified that whenever DOGE does not meet its assessment, then it can suspend the trades related to the asset
- Experts in the cryptosphere estimate that Dogecoin has gained bullish momentum, and the price will surge more
Dogecoin (DOGE), or the meme-based cryptocurrency which came as a joke, is now trending in the cryptosphere. Since the beginning of this year, the coin has seen an impressive surge in its price and cap. According to the data from CoinMarketCap, DOGE is currently the sixth-largest cryptocurrency in terms of market capitalization. On the other hand, the crypto asset’s price is not missing any chance to surge. Moreover, Dogecoin has attracted several leading crypto exchanges. Recently, Coinbase has included DOGE with other tradable assets.
DOGE has been listed on Coinbase’s Pro platform
Coinbase exchange is one of the largest cryptocurrencies exchanges globally. On Tuesday, the exchange announced that its Pro hub would finally list DOGE. The platform announced that it would soon start to accept the meme-based crypto asset from Coinbase Pro’s users. However, the exchange kept a condition to roll out trading options for DOGE.
According to Coinbase’s official announcement, if the exchange finds enough liquidity, then the trading of DOGE will begin on or after 9 am Pacific Time on Thursday. Generally, the trading will be enabled for users in the firm’s supported jurisdictions.
Coinbase can hold DOGE’s trading for long
Notably, Coinbase has cited a few trading rules and claimed that it could hold the trading if the conditions do not meet. The exchange will be introducing the latest trading option in three phases. Such phases include post-only, limit-only, full trading.
However, it clearly mentioned if the order book of DOGE does not meet its assessment for a healthy and orderly market, it can suspend trading or hold the book in one state for a longer timeframe.
Recent price performance of Dogecoin
Dogecoin has continued to perform impressively since the beginning of this year and gained more than 6000%. At press time, DOGE is trading at the price level of $0.4212, as per CoinMarketCap. Over the past seven days, we observed that the DOGE is up by more than 23%. Notably, over the last 24 hours, the token is only up by 0.85%.
When the cryptocurrency markets faced heavy sell-off, DOGE shed its price by approximately 88% from its last all-time high level. However, since the period of sharpest sell-off, digital currency has achieved more than 40%.
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Following the technical analysis and insights of the currency, experts estimate a strong uptrend in the token’s price. Meanwhile, the asset volume indicator shows a slight selling pressure on the daily chart of Wednesday. Hence a surge in the volume offers a long way for the Dogecoin price.
Did Coinbase’s listing help the DOGE price to surge?
Coinbase’s user base is massive, with a large count of approximately 56 million verified users. Historically, whenever the exchange lists a new virtual currency, its price tends to surge. And such a phenomenon has been considered by the experts in the cryptosphere as “The Coinbase Effect”. Coinbase’s professional-level hub for active traders has played a significant role in DOGE price’s recent surge.
Is DOGE a valuable crypto project?
Historical insights of Dogecoin tells us that the blockchain has kept its little promise to be beneficial. Few technological updates to the chain have made the blockchain project risky for amateur retail investors.
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Following the historical insights of Dogecoin value, we observed that the coin has continued to surge since the beginning of this year. Elon Musk, the CEO of Tesla, remained the most prominent advocate of DOGE. The tweets published by Elon Musk has helped the digital currency a lot to gain more value.
We have observed the total market cap of DOGE is continuing to surge. Over the last seven days, the total market capitalization of the crypto asset is up by more than 16.66%. At press time, the entire capitalization of the currency is about $52.27 billion, which is up by more than more than 5.9% over the last 24 hours. Furthermore, the current circulating supply of Dogecoin is more than 129 DOGE.
