LOGO_CRYPTO_SIGHT

Coinbase Pro to Offer Facilitating Features For Memecoin DOGE Trading

By Natalie Wu | June 2, 2021

Coinbase Pro – the trading-focused division of top-tier crypto exchange Coinbase – has reportedly started to support inbound transfers for Dogecoin (DOGE), preparing for vast adoption of the meme crypto coin.

Specifically, DOGE trading will reportedly be facilitated officially across Coinbase Pro beginning June 3rd, 4:00 pm UTC, should liquidity requirements are satisfied. 

Previously, trading for DOGE is reportedly available trading throughout five pairs, including DOGE/USD, DOGE/BTC, DOGE/EUR, DOGE/GBP, and DOGE/USDT. Order books will be released in three staggered stages, starting with post-exclusive, then by limit-only, and lastly 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,”

DOGE price value has reportedly shown a positive reaction to the development, climbing an additional 3%, per TradingView. Obviously, that type of growth is still no match for the exponential increase the meme-based cryptocurrency experienced during the first half of 2021. 

Dogecoin has reportedly gained its mainstream attention because of numerous bizarre reasons, with Elon Musk apparently throwing in the weight behind the virtual coin, as well as the extensive support from Robinhood traders.

At a certain point amid the market boom, DOGE liquidations reportedly exceeded that of Bitcoin, emphasizing the demand for digital assets. Twitter activity associated with DOGE also surpassed the flagship crypto asset at the start of 2021, for a short period of time.

Tags: , , , ,

Comments