The latest Dogecoin news show that Bitfinex lists DOGE, mostly as a result of the recent TikTok viral craze which brought a lot of excitement for investors. The viral aspect of the cryptocurrency made it surge above $0.005 over the past few days, recording massive growth in a short amount of time.
What started as a joke and a meme-based cryptocurrency is now a digital asset that can be traded on a legit exchange. A Twitter announcement on July 10 shows that the exchange has deposits already available – and that it would begin supporting Dogecoin starting from 8:30 UTC today.
. @Dogecoin is listed on Bitfinex!
MDOGE deposits are now open. Trading will start in one hour, at 8:30 am UTC.
— Bitfinex (@bitfinex) July 10, 2020
This move also caps one bizarre week for the token, where we saw DOGE shooting up after a spontaneous publicity campaign that involved users of social media platform TikTok emerged online.
Due to the attention that this campaign generated, we saw Bitfinex stepping into the trading arena. As Google data shows, a lot of new customers bought the cryptocurrency which is obviously why Bitfinex lists Dogecoin now, allowing even more users to purchase it.
The move may have been responsible for more noticeable price gains. After TikTok, which led the DOGE/USD pair to almost two-year highs, Thursday saw a fresh high of $0.0052 for the pair.
A reversal has taken place since then, while DOGE managed to bounce off its newfound support at $0.004. The CTO at Bitfinex, Paolo Ardoino, added even more details and tweeted “such wow! MegaDOGE on Bitfinex” along with an additional slang note:
— Paolo Ardoino (@paoloardoino) July 10, 2020
Meanwhile, as Bitfinex lists DOGE, the cryptocurrency even found its way into mainstream media this week, with Bloomberg noting specific Google Trends numbers in a dedicated article.
“The whole currency was started as a joke to make fun of the financial system, which is bizarre to think about,” the publication quoted Justin Litchfield, the CTO of hedge fund ProChain Capital as saying on Wednesday.
Data from Google Trends in the latest crypto news also shows that DOGE is viral, and the phrase “how to buy Dogecoin” significantly outperformed “how to buy Bitcoin” over the past seven days.
Currently, DOGE is trading at $0.0038 with a major 17% decline today and a high trading volume of $243 million, which suggests that many users are taking out their profits, hence the price decline.
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