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Three major exchanges add support for Dogecoin (DOGE) in a single day | Invezz


invezz.com 2021-01-14 10:21
Reading time: ~2 m

The so-called “joke cryptocurrency,” Dogecoin (DOGE) has somehow manage to remain popular for almost eight years now, after being created in 2013, based on a meme. Interestingly, its popularity does not seem to be passing, as the coin was just added on three major exchanges in only 24 hours.

DOGE supported by three more exchanges

The listings came yesterday, January 13th, after the cryptocurrency was listed on Huobi Futures, FTX, and WazirX. Two of the exchanges — Huobi Futures and FTX — are rather popular crypto derivatives exchanges, which enabled DOGE for futures trading. FTX also supported it for regular spot trading, and so did WazirX.

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The interesting part is that neither of the exchanges gave their reasons why they listed DOGE so suddenly, as the coin did not see any notable price surge or new popularity bursts prior to the listings.

Of course, there is the fact that Elon Musk, the CEO of Tesla and SpaceX, recently tweeted about DOGE once more. Musk has grown to be a rather popular individual in the crypto world, despite the fact that his connection to the crypto industry mostly comes down to jokingly tweeting about it.

He did admit that he owns some BTC at one point, and he noted once that DOGE is his favorite cryptocurrency, as far as its concept goes, at least.

DOGE price fails to react

Another noteworthy detail is that a similar group listing of DOGE also took place in 2020, when Binance, OKEx, and Bitfinex all added support for the coin in a single day, as well. Binance added DOGE futures, while the other two platforms listed it for spot trading, similarly to what happened yesterday.

However, it is also worth noting that the listing did not have a major impact on the coin’s price. DOGE did grow by 5% in the last 24 hours, although that could very well be the result of a price recovery, instead of a surge caused by the new move.

Interestingly, Musk’s recent tweet that simply said “One word: Doge” caused the coin’s price to skyrocket by 35%. But, the listing on three major exchanges on the same day seemingly had no effect.

One word: Doge— Elon Musk (@elonmusk) December 20, 2020

The coin is still down 14.38% on a weekly basis, and its price currently sits at $0.008555 after dropping from its two-year high of $0.01387, which it hit on January 3rd.


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