The notorious Dogecoin will be open for trading on the popular trading platform Coinbase Pro on Thursday, June 3. In mid-May, Coinbase CEO Brian Armstrong revealed that crypto assets inspired by memes will be listed within six to eight weeks. It took only 18 days to add Dogecoin to Coinbase Pro, but the coin has not yet been added to the consumer app Coinbase.com.
Coinbase Pro opens the door to Dogecoin
According to a blog post published on Tuesday, crypto traders can start depositing Dogecoin (DOGE) into their Coinbase Pro account today. If the liquidity conditions are met, trading will begin at 9 a.m. (Pacific Time) on June 3rd.
Coinbase pointed out in the announcement that it pays great attention to finding crypto assets that meet its standards. The exchange recently added support for tokens such as 1inch (1INCH), enjin coin (ENJ), internet computer (ICP), cartesi (CTSI) and iexec (RLC).
Coinbase Pro will publish tweets about Dogecoin’s order book movement in phases. “Once a sufficient supply of DOGE is established on the platform, trading of our DOGE-USD, DOGE-BTC, DOGE-EUR, DOGE-GBP and DOGE-USDT order books will start in three stages,” Coinbase pointed out.
“If at any time, one of the new order books does not meet our assessment of a healthy and orderly market, we may keep the order in a state for a longer period of time or suspend trading,” the company’s announcement details.
Coinbase also summarized what Dogecoin is in a small paragraph and pointed out that it has the Shiba Inu logo. “Unlike Bitcoin, which is designed to be scarce, Dogecoin is deliberately rich-10,000 new coins are mined every minute and there is no maximum supply,” Coinbase explained in a blog post.
DOGE ushered in an extraordinary 2021, as crypto assets have risen by 561% in the past 90 days, and 12-month statistics show that Dogecoin has risen by 12,506%. After hitting an all-time high 25 days ago, this meme-inspired currency, like many other coins in recent times, has depreciated.
At that time, the transaction price of a single DOGE was $0.737 per unit. According to today’s exchange rate, the value of Dogecoin has fallen by 53.73% to $0.341 per unit.
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