Coinbase Pro Starts Accepting DOGE Transactions: Report

Coinbase Pro starts accepting DOGE transactions and paved the way for greater use of the meme-based cryptocurrency as we see more today in our latest Dogecoin news.

The exchange said that as of Tuesday, Coinbase Pro starts accepting DOGE transactions on its platform assuming liquidity conditions are met. DOGE will be available in five trading pairs: DOGE/BTC, DOGE/USD, DOGE/EUR, DOGE/GBP, and DOGE/USDT. The order books will be available in three stages starting with post-only, limit-only, and full trading:

“If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.”

Starting today, inbound transfers for DOGE are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday June 3, if liquidity conditions are met. https://t.co/sFYODy4Xma

— Coinbase Pro (@CoinbasePro) June 1, 2021

Dogecoin is now trading at 36 cents marking a 6000% increase for the year but it did drop by more than 50% since reaching a new high in May. The $43 billion is the market cap of DOGE as of Tuesday making it the seventh biggest cryptocurrency. The price of the token increased by 5% in the past 24hours and now sells for $0.34. BTC and ETH on the other hand saw their prices drop as a result of the market crash. The coinbase CEO Brian Armstrong commented on the impending launch of DOGE during the investor call outlining his intention to speed up the asset addition into the future:

“There are more and more assets being created in the crypto economy.”

🎶 Who let the Doge out 🎶

— Elon Musk (@elonmusk) February 7, 2021

Tesla billionaire Elon Musk who is the self-proclaimed dog father sent the price of the coin surging through his personal investments and internet promotions so DOGE’s value surged by 20% after the comments coincided with the announcement from Elon that he will work with doge developers to improve the system transaction efficiency. Twitter’s activity surrounding the coin surpassed BTC at the start of the year. With the distinctive sense of humor, Musk found it ironic that the coin has strong potential to be the world’s reserve currency:

“Which one it is going to be? Maybe it’ll be multiple, it should be considered speculation at this point. The point is that Dogecoin was invented as a joke, as essentially to make fun of cryptocurrencies. Fate loves irony, what it would be the most ironic outcome? That the currency that was invented as a joke, in fact becomes the real currency. To the moon!”