- Dogecoin has been listed on Binance cryptocurrency exchanges
- This comes two months after DOGE got listed on Coinbase
- At press time, DOGE is ranked 27th on CoinMarketCap crypto table
Major cryptocurrency exchange Binance has listed dogecoin (DOGE) on its trading platform. The Malta-based exchange announced the development in a blog post published on July 5, 2019.
Wow, Much Listing
Dogecoin, a cryptocurrency inspired by the famous Doge meme within the Internet community has finally be listed on Binance cryptocurrency exchange.
According to the official blog post, Binance users will now be able to trade DOGE in various trading pairs – DOGE/BNB, DOGE/BTC, DOGE/USDT, DOGE/PAX, DOGE/USDC. The exchange has already opened the deposit feature for DOGE cryptocurrency in order to give traders enough time to prepare themselves to trade the meme-inspired digital currency.
Dogecoin started receiving attention within the crypto community mainly due to its genius marketing tactic. Using a meme format to popularize itself proved to be a masterstroke for DOGE where it was able to save a considerable amount of money it would have otherwise spent on marketing and PR.
Dogecoin is essentially a bitcoin (BTC) clone with slight tweaks. Launched in December 2013, Dogecoin consistently ranks among the top digital currencies in the world and has a well-organized developer community. Just like BTC, DOGE uses Proof-of-Work algorithm to processes transactions on the blockchain.
The Binance listing of DOGE comes two months after another major cryptocurrency exchange, Coinbase, had listed the cryptocurrency on its trading platform. Before that, in October 2018, DOGE was also added as one of the acceptable digital currencies by crypto loan platform SALT.
The digital currency has also received major backing from several noted personalities. SpaceX and Tesla founder Elon Musk has, on several occasions, called dogecoin his “favorite cryptocurrency.”
Impact on DOGE Price
A listing by premier cryptocurrency exchanges like Binance or Coinbase often leads to a mini-rally in the listed cryptocurrency, and DOGE is no exception.
Shortly after being listed by Binance, DOGE shot up in price. The digital token surged by as much as 35 percent in a very short period of time. At press time, DOGE trades at $0.004132, up by 24 percent in the 24-hour trading period with a market cap of almost $500 million.
