Cryptocurrency News

Dogecoin up 40% after Coinbase Pro listing, tweets Musk

Meme cryptocurrency Dogecoin (DogeAfter listing on Coinbase Pro and another flurry of tweets from self-appointed Doge spokesman Elon Musk, Tuesday morning surged more than 40%.

coinbase announced Dogecoin’s listing on its pro trader platform, Coinbase Pro, on Monday marked the beginning of a rapid revival in the coin’s fortunes. The price of Doge fell 59% over the past month after a massive market crash in early March.

The price of the coin rose from $0.3137 on Tuesday to $0.4398 in the hours following Coinbase’s announcement, a rise of just over 40% overnight.

Coinbase is now accepting inbound deposits in anticipation of Dogecoin trading to begin on Thursday, June 3, assuming sufficient liquidity exists. Trading will begin in five trading pairs: DOGE/USD, DOGE/BTC, DOGE/EUR, DOGE/GBP and DOGE/USDT.

Tesla CEO Elon Musk may have given Doge more exposure on Tuesday when he posted another Dogecoin meme. This time, the meme showed Doge hiding in a 1980s computer setup, with the caption “I have to keep my passion hidden from the public or I’ll be socially ostracized.”

Musk also retweeted an old Dogecoin meme he first tweeted in 2020 that depicted Doge world wide Because it replaces the existing financial system.

in the middle moving coin prices of both Dogecoin and Bitcoin (B T c), Musk has also taken care to remind He has 56 million followers that he is not officially associated with the project in any way and that his ability to effect change on it was limited.