Dogecoin price has rallied after news that it will be open for trading on the popular Coinbase Pro platform on June 3. A consumer focused Coinbase.com listing is not far off.
It was in mid-May, during an earnings call, that Coinbase CEO Brain Armstrong revealed that the meme inspired crypto asset would be listed on the exchange in six to eight weeks. It only took 18 days for Dogecoin to be added to the professional trading platform.
Coinbase Pro said in a blog post announcing the development that users could transfer DOGE into their professional trading accounts, with trading expected to launch on Thursday — if liquidity conditions are met.
And the price of the coin has rallied well after the news. It is trading at a 12-day high of above $0.41 cents that represents a gain of 20.18% just in the past 24 hours.
Overall, Dogecoin has soared 32% since the development.
And although the blog post above did not announce, whether Coinbase would add the cryptocurrency to its retail trading platform and mobile app, the exchange typically adds cryptocurrencies to its retail platform a few weeks after first listing on the professional version.
This new listing exposes DOGE to a new breed of investors, as Coinbase is considered synonymous with high-net-worth investors.
The company debuted on Nasdaq on April 14, and that has since enticed a whole new breed of investors to take a look at crypto and digital assets in new light. This new listing is sure to open up the meme coin to a new array of investors.
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