Coinbase has finally allowed Dogecoin ($DOGE) in on its platform, listing the meme cryptocurrency available for trading and other transactions including buying and selling after months of requests from interested users. The meme cryptocurrency is one of the top blockchains in the world, making up massive volumes on the platform it is present in.
The popular cryptocurrency exchange platform from CEO and Founder Brian Armstrong has caved in for Dogecoin, and it finally listed the cryptocurrency on its platform shortly after going public months ago. The company’s IPO (initial public offering) has been the top talks leading to its launch in the market, which is massively anticipated by fans and enthusiasts.
Earlier in April, Coinbase has announced its plans for an IPO or going public, which led to an all-time record price surge for Bitcoin’s trade value of $63,000 along with the rise of Dogecoin. The rise of Dogecoin has been attributed to riding on the coattails of Coinbase, which made it rise from 11 cents to its 30 cents valuation last month.
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Coinbase Allows Dogecoin Trading on Its Platform
LONDON, ENGLAND – OCTOBER 21: Coinbase CEO Brian Armstrong appears on stage at the 2014 TechCrunch Disrupt Europe/London, at The Old Billingsgate on October 21, 2014 in London, England.
In the recent investors meeting within Coinbase’s platform, CEO Brian Armstrong has revealed that the meme cryptocurrency, Dogecoin ($DOGE), will be available in its listing in six to eight weeks for trading. This means that in more than one month, Dogecoin will be up on the platform and allow it for the different transactions made, following Binance and Robinhood’s footsteps.
This is a win-win for both the meme cryptocurrency and for Coinbase, especially as Armstrong and the crypto exchange platform charges 1.49 percent for every transaction or purchase of any blockchain coins in its platform. Moreover, the CEO anticipates an “App Store-like” surge on its platform, which experiences a massive high when launching an anticipated app.
Will Dogecoin Increase More Due to Coinbase Listing?
The rise of Dogecoin has been in a steady trend for a long time now, especially as the meme cryptocurrency lives close to the hearts of the public and has been a crowd favorite underdog ever since its launch. Coin Market Cap shows Dogecoin’s massive valuation at almost $72 billion now and is still expected to grow in the future.
$DOGE is valued more than half a dollar now for its trade value ($0.55 as of May 15), which is a massive achievement for the meme cryptocurrency which is said to remain cheap and give people a chance to trade it. Coinbase’s future listing of Dogecoin could also help it grow more, especially as users of the platform would soon be able to trade the crypto to their liking.
Written by Isaiah Richard