Beginning Tuesday, Coinbase Pro members can start joining Dogecoin to their accounts in anticipation for when trading opens on Thursday at noon ET/9 a.m. PT, as stated in a company blog post. Coinbase states there must be a sufficient amount of Dogecoin ready for trades. It may pause trading if it does not meet its estimate for a healthy and orderly market.
Beginning Tuesday, the crypto exchange is allowing its Pro users to trade Dogecoin. This cryptocurrency was designed as a joke and has taken off this year, supported by the frequent tweeting of Tesla CEO Elon Musk.
Dogecoin Is Currently Trading at 32 Cents
DOGE is up nearly 6,000% for the year. Nevertheless, fell by more than 50% after touching a high in May.
Coinbase is one of the biggest crypto exchanges on the planet. Its Pro service, as the name implies, is for professional traders. Dogecoin is also possible for purchase on Robinhood’s app and through Gemini.
Dogecoin fired up in 2021, beginning the year with a value of fewer than a penny. It then started growing in importance somewhat due to the growing support from Tesla CEO Elon Musk. It rose at 72 cents on May 7, days before Musk hosted an episode of Saturday Night Live.
Forward with other cryptocurrencies, it has since fallen in value due to news of China probably restricting cryptocurrency trading in the country and Musk announcing Tesla would no longer accept Bitcoin for purchases due to environmental matters. With Dogecoin hopping onto the largest crypto exchange in the world, it could get another increase in value.
Coinbase members on the waitlist for the Coinbase Card will receive an invite to join for the card starting this week. Once established, they will be able to use the credit card instantly on Apple Pay or Google Pay, and they can get up to 4% back in crypto rewards for purchases.