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Coinbase Pro Starts Accepting Inbound Transfers Of Dogecoin

The professional trading wing of the Coinbase digital asset exchange, Coinbase Pro has started accepting deposits for meme based Dogecoin. The trading of the meme digital coin will go live on Coinbase Pro Thursday at 9:00 a.m. Pacific Time. However, the trading will commence only if the liquidity conditions are met, as per a recent announcement by the US-based crypto exchange.

For starting, Dogecoin will be supported across 5 trading pairs. The trading pairs include DOGE-EUR, DOGE-USD, DOGE-GBP, DOGE-USDT, and DOGE-BTC.

Coinbase stated, “If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.”

The meme coin’s price seems to have responded positively to the development. However, the gains are nowhere comparable to the exponential rise for DOGE through the first half of this year.

It would be apt to say that Elon Musk’s discernible backing of the meme based crypto and extensive support from Robinhood traders, might have contributed a lot to the coin’s popularity. Notably, at one point during the market euphoria, DOGE liquidations went past that of BTC, which further highlights the mushrooming demand for the crypto asset. 

What do you think about the latest listing of the mem based coin on Coinbase pro? Let us know in the comments below!

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