CoinbasePro will add further liquidity for the memecoin, potentially being a catalyst for even higher prices.
Dogecoin to Coinbase Pro
This Thursday June 3rd at 9 AM PT (4 PM UTC time), Coinbase Pro will allow for the trading of Dogecoin, if liquidity conditions are met. News broke Tuesday, June 1st when Coinbase Pro announced via Twitter that they are now accepting inbound transfers of Dogecoin to Coinbase Pro wallets, yet no order can be filled until, you guessed it, the “liquidity conditions are met.”
The new addition of Dogecoin to Coinbase Pro is a big step in the right direction for memecoins. Traders should be aware that Coinbase Pro is very serious about conditions being met for the trading of Dogecoin to be enabled. Since the new DOGE is up 35%, reacting positively to the bullish news.
In a recent post published by Coinbase Pro, it reads “If at any point one of the new order books does not meet our assessment for a healthy and orderly market” that Coinbase Pro “ may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.”
Coinbase Pro can suspend trading depending on their assessment of a healthy market, something traders should keep in mind if deciding to use Coinbase Pro to buy Dogecoin.
Dogecoin has grown ridiculously in popularity. It currently holds the 6th largest market cap in the crypto market. Elon Musk, Robinhood traders, and large reddit communities have successfully shot up the price of Dogecoin, but will it continue the historic rise?
Significance of DOGE Listing
Although Dogecoin’s future remains unclear, it’s always a good sign to partner and land on an exchange. More exposure typically translates to more investors seeing the coin, and thus a higher probability of investors choosing to invest in it; ultimately driving the price up. For the Dogecoin community, however, the excitement is through the roof!
Dogecoin
Dogecoin is a cryptocurrency that operates on a peer-to-peer blockchain called the lightning network. The coin started as a joke, but thanks to Elon Musk and large online communities, Dogecoin currently sits in the 6th spot for highest market cap in the crypto industry. The coin is now synonymous with their infamous mascot, the Shiba Inu.
Source : bsc.news
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