Coinbase Pro to add support for dogecoin later this week

Jun 1, 2021 | The Block News | 0 comments


Dogecoin, the popular and volatile meme-themed cryptocurrency, is headed to Coinbase’s pro-oriented crypto exchange.

In a Tuesday blog post, Coinbase said it was allowing DOGE account transfers starting June 1 with an eye to go live, provided sufficient liquidity exists, on June 3. 

“Support for DOGE will generally be available in Coinbase’s supported jurisdictions. Trading will begin on or after 9AM Pacific Time (PT) Thursday June 3, if liquidity conditions are met,” Coinbase said in the post.

The move comes several weeks after Coinbase executives signaled that the exchange firm would add support for dogecoin, which saw eye-popping price moves in May. Dogecoin’s price has fallen since it rose above $0.70 — a development that came after significant media attention around the support given by the likes of Elon Musk and other prominent investors, as well as the enthusiasm for the cryptocurrency among younger investors on platforms like TikTok.

At press time, DOGE is trading at $0.34. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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