Dogecoin received massive attention from the crypto enthusiasts after the tech behemoth and the wealthiest person in the world, Elon Musk, tweeted about it a few days back. The crypto token has now been listed on three exchanges in a single day.
Huobi, WazirX, and FTX have listed Dogecoin on their platforms.
Dogecoin Listed on Three Exchanges
The meme crypto token Dogecoin is gaining massive popularity after Elon Musk tweeted about it and even updated his Twitter bio as former CEO of Dogecoin. The Tweet created an immediate stir in the crypto circles, and the token price began to surge unprecedentedly.
As Bitcoin price was fast shooting towards its all-time high, various exchanges are trying to capitulate newer digital assets. Elon Musk’s recent tweets have largely impacted Dogecoin‘s performance. The visibility of Dogecoin was limited until last year. As the competition is rising in crypto markets, various exchanges are trying to leverage the potential of smaller tokens for better sustainability. In July 2020, OKEx and BitFinex also listed the token on their exchange within two days.
In June last year, a TikTok video promoting Dogecoin went viral, and the price of Dogecoin jumped around 100 percent post that. BitFinex tried to leverage the hype and listed Dogecoin on its platform for trading. The exchange rolled out an ETF like MegaDogeCoin, which provided One MDOGE for 1 Million Dogecoin tokens worth $4500 at that time. It is interesting to note that at the time, BitFinex boasted of being the only crypto exchange where users can trade Dogecoin in bulk.
While recent tweets by SpaceX and Tesla CEO skyrocketed the interest in Dogecoin and prompted leading exchanges like Huobi and FTX to list it on their platform, the markets did not react much to the development, and the price of DOGE remained unimpacted.
Yesterday’s listing could not catapult the seemingly Joke currency’s stock price, which was launched in 2013 based on a meme. Huobi Futures is a leading crypto exchange that started Dogecoin futures trading while FTX launched both Dogecoin futures and generic spot trading. WazirX is another crypto exchange that launched spot trading for the crypto token.
Disclaimer
The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.
