Crypto News

Dogecoin Bags a Spot on Nasdaq-Listed Crypto Exchange Coinbase

Dogecoin, Dogecoin Bags a Spot on Nasdaq-Listed Crypto Exchange Coinbase
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Yerevan (CoinChapter.com) — Coinbase Global Inc. announced on Thursday its plan to offer Dogecoin on its trading platforms. CEO Brian Armstrong confirmed that the company will implement its plan in six to eight weeks.

Primarily, Coinbase has concentrated on offering Bitcoin (BTC) and Ether (ETH), although it also has over 100 altcoins listed on its website. The company regularly updates users with its plans on increasing its altcoin offerings to meet market demand.

Read more: Dogecoin Holds Bullish Bias Despite Brutal Overnight Crash; What’s Next?

Another reason why Brian Armstrong’s company wants to increase its crypto offerings is the evident fear of losing customers to competitors. Many of the cryptocurrency exchange platforms in the market have started going beyond the popular digital currencies. So far, Coinbase has not added some of the tokens that have become popular in recent weeks, including Dogecoin.

With the move, Coinbase hopes to rectify the situation.

Dogecoin Prices Soar

The cryptocurrency that started as a joke is now a serious asset. Despite the temporary dip in prices, Dogecoin has registered some serious jump in value over the past weeks.

It created much noise when it rose more than $50 billion thanks to backings from big names like Elon Musk and Mark Cuban. On the 6th of May, the ‘Meme’ cryptocurrency surpassed the $77 billion market cap. That was a more than 6,000 percent increase this year alone.

Read more: Dogecoin Dives after Elon Musk Calls It A ‘Hustle’ on Saturday Night Live

However, Dogecoin didn’t stop there. In what comes as a shock to critics who cannot comprehend the unsubstantiated craze created by the cryptocurrency, Elon Musk has stepped up once again to rock the boat. In a tweet informing watchers that he plans to get actively involved in Dogecoin, the eccentric Tesla CEO made headlines again, taking the meme coin on a joyride with him.

Following Musk’s tweet, prices of Dogecoin went over the roof. The cryptocurrency’s market cap registered a hike of $10 billion.

When Musk took to Twitter to write the tweet, the total valuation of the Dogecoin market was around $55 billion. In just 15 minutes, it surged to $66 billion.

Following Musk's tweet, prices of Dogecoin went over the roof. Source: CoinGecko
Following Musk’s tweet, prices of Dogecoin went over the roof. Source: CoinGecko

With regular fluctuations in market value owing to Musk’s regular tweets, the joke cryptocurrency is gaining more fans and takers, thus cementing its position in the crypto world.

The news of Dogecoin bagging a spot on Coinbase comes weeks after Mark Yusko termed Bitcoin as “pure speculation that will end badly.”

However, until that happens, Dogecoin is the crypto to watch.

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Karen Mkrtchyan

Yerevan-based Editor and writer focusing on topics about politics and international relations. Having completed his Bachelors and Masters degrees from Delhi's Jawaharlal Nehru University, he currently works as a Projects Coordinator at Indo-Armenian Friendship NGO and the Indian Cultural Centre, Armenia. He regularly writes articles for Armenian media platforms and is the English language Editor of Keghart, a reputed Armenian Diaspora news platform based in Canada. As a young activist, he was awarded "The Best Active Youth International Award" by the Afghanistan Youth Parliament. He is also the Media in charge of the Youth Wing of Bright Armenia Party, the third-largest political party in the Armenian Parliament.

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