Coinbase misses out on Dogecoin (DOGE) listing

Share

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

Published by
Jet Encila

Recent Posts

Friday essay: 3 ways philosophy can help us understand love

Love can seem a primal force, an intoxicating mix of desire, care, ecstasy, and jealousy…

3 hours ago

Print isn’t dead: major survey reveals local newspapers vastly preferred over Google among country news consumers

Newspaper readers in rural and regional Australia are five times more likely to go directly…

3 hours ago

Upgrades to US Army’s night vision technology turns darkness into a video game

The US Army has developed a night vision technology that can help them to see…

9 hours ago