The meme-based cryptocurrency Dogecoin (DOGE) is now available for trading on Coinbase Pro, marking another milestone for the digital asset that has grown over 6,000% in value this year. Trading officially began on June 3rd, following liquidity conditions being met.
Dogecoin’s Journey to Coinbase Pro
From Meme to Market Leader
Initially created as a joke in 2013, Dogecoin has evolved into a serious contender in the crypto space, largely due to endorsements from high-profile figures like Elon Musk. The Tesla CEO’s tweets have repeatedly fueled price rallies, earning him the title of “Dogefather.”
👉 Discover how Dogecoin’s community-driven ethos sets it apart
Coinbase’s Phased Rollout
- Inbound Transfers: Coinbase Pro began accepting DOGE deposits ahead of the launch.
- Post-Only Orders: Initial trading was limited to post-only orders.
- Full Trading: After market stability checks, limit orders and full trading were enabled.
The exchange emphasized a gradual rollout to ensure an orderly market.
Why Dogecoin’s Listing Matters
Market Impact
- Price Surge: DOGE’s value jumped from $0.05 to $0.41 in 2021.
- Market Cap: Peaked at $55 billion, surpassing major altcoins.
- Adoption: Over 1,300 merchants now accept Dogecoin.
Comparison to Bitcoin and Ethereum
While BTC and ETH faced volatility, DOGE’s upward trend showcased its resilience and community support.
Key Features of Dogecoin
- Inflationary Supply: 10,000 DOGE mined per minute; no cap.
- Low Fees: Ideal for microtransactions.
- Community-Driven: Funded NASCAR sponsorships and charities.
👉 Explore the future of meme coins in decentralized finance
Coinbase’s Expanding Crypto Offerings
Coinbase Pro continues to diversify, recently adding:
| Cryptocurrency | Symbol |
|—————|——–|
| Internet Computer | ICP |
| Cardano | ADA |
| Polygon | MATIC |
| Tether | USDT |
FAQs About Dogecoin on Coinbase Pro
1. When did Dogecoin launch on Coinbase Pro?
Trading began June 3rd, 2021, after liquidity thresholds were met.
2. Why is Dogecoin’s supply unlimited?
Unlike Bitcoin, DOGE’s inflationary model encourages spending over hoarding.
3. How did Elon Musk influence Dogecoin?
Musk’s tweets spurred retail investor interest, driving price surges and mainstream attention.
4. Can I trade DOGE on Coinbase’s mobile app?
Not yet. Support for Coinbase.com and mobile apps will follow a separate announcement.
5. What’s Dogecoin’s long-term utility?
While initially a meme, its low fees and active community support use cases like tipping and payments.
6. How does Coinbase’s rollout protect traders?
The three-phase approach minimizes market disruption and ensures stability.
Conclusion
Dogecoin’s Coinbase Pro listing cements its transition from an internet joke to a legitimate crypto asset. With Elon Musk’s influence, a dedicated community, and growing merchant adoption, DOGE remains a fascinating case study in market dynamics and cultural trends.
For those looking to dive deeper, understanding market trends and risk management is crucial.