August 1, 2021

New boost from Coinbase and Elon Musk for Dogecoin (DOGE)

Source: Twitter, @haydentiff

Dogecoin is among the best performing cryptocurrencies to date, following the confirmation of Coinbase of his intention to proceed with his listing, whileElon Musk said his team is helping to develop the most popular cryptocurrency “meme” on the market.

DOGE jumped about 30% tonight on the news. It is currently trading at $ 0.52 and has risen 11% in one day, reducing its weekly losses to less than 17%.

Dogecoin (DOGE) gets another boost from Coinbase and Elon Musk 102
Source: Messari

Brian Armstrong, CEO of Coinbase, said on their recent earnings conference call that the platform plans to list DOGE in the next six to eight weeks.

“Today we are doing the analysis of a number of factors, we are looking at the cybersecurity around the cryptocurrency to make sure that there will not be any problem that would cause the loss of customers. let’s also look at it from a legal point of view and a compliance point of view, “said the CEO of their listing process.

For his part, Musk revealed his support for the developers of Dogecoin “to improve the efficiency of the system’s transactions”, which is “potentially promising.”

Among the top 10 cryptocurrencies, DOGE is today outclassed by Cardano (ADA) (+ 17%) and Polkadot (DOT) (+ 12%). Bitcoin (BTC) is down less than 1%, Ethereum (ETH) is down almost 3%.

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