Coinbase misses out on Dogecoin (DOGE) listing

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The tremendous rally of Dogecoin (DOGE) that pushed returns to the meme token with a dog face to more than 6,000% this year is being missed by Coinbase, the cryptocurrency exchange that went public via a direct listing of its shares in Nasdaq last week.

The price is not just the one thing making the digital currency attract more and more attention.

Dogecoin also boasts a high daily trading volume that surprisingly surpasses that of Ethereum, the second-largest cryptocurrency next to Bitcoin (BTC). What started out as a joke in 2013 is now taking the global crypto market by storm.

Not a Hint from Coinbase

Even with the loud noise, Dogecoin is making now, Coinbase (COIN) has not dropped even a single hint in having it listed. Press officials of the company did not immediately answer requests for comments regarding the matter.

Instead, a page on their website simply stated that although DOGE is not available for trading, it can still be added to the watchlist of anyone with a Coinbase account, in addition to simply reading news about it.

Market players are keenly waiting for the next move of the crypto exchange giant.

Shareholders’ Thoughts

Meanwhile, new shareholders of Coinbase might have something to worry about, especially about the competitive disadvantage of having Dogecoin listed by the company’s biggest global rivals.

CoinGecko revealed, through its website, that the bulk of the trading volume in Dogecoin came from equally big exchanges, namely OKEx and Huobi.

A representative from OKEx said to CoinDesk that they listed DOGE back in 2019 after seeing that there was abundant public demand for the asset even if it is viewed as a meme token. It added the digital currency is one of the oldest out there and has a strong community behind it for support.

Image courtesy of Benjamin Scoresby/YouTube

Jet Encila

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Jet Encila

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