Coinbase Watch: Dogecoin’s Path to Mainstream Adoption
Dogecoin [DOGE] has evolved into a significant contender within the market despite its humorous beginnings. The committed community, celebrity endorsements, and growing acceptance have bolstered DOGE’s position. At press time, the asset was trading at $0.1501 with a 0.61% daily surge.
Coinbase Speculation
Dogecoin’s potential listing on Coinbase has been garnering steam. The conjecture gained traction following the detection of sizable transfers totaling nearly 557 million DOGE. This was valued at around $68.7 million. This was reported by Whale Alert. This has caught the eye of investors due to the the significance of these transfers. Wallets like “DFBx6” and “DCTpB” have remained dormant since June 2021. The sudden activity from the wallets coincides with Coinbase’s initial listing of DOGE during last year’s bullish market.
Coinbase’s rumored plans to roll out Dogecoin futures have been eagerly anticipated. They particularly follow the exchange’s recent successful listings of assets like Litecoin [LTC] and Bitcoin Cash [BCH]. However, it should be noted that these transfers aren’t a confirmation or conclusive evidence but they certainly add fuel to the ongoing speculation.
Also Read: Dogecoin Trading Volume Drops 15%, Is Post-Halving Surge Still In Play?
Parallels with Robinhood
Another prominent platform which is considered Coinbase’s rival, Robinhood has been dragged into the situation. The platform conducted significant transfers of Shiba Inu just before announcing the token’s availability for trading.
Also Read: Dogecoin Forming Head and Shoulders: Can DOGE Hit New ATH in May?
While the entire market awaits clarification, questions regarding the true motives behind these transfers have been raised. Regardless of the answers. the anticipation around DOGE’s potential expansion onto Coinbase’s futures platform stays afloat. The mere possibility of such a development has ignited excitement. This highlights the reach and importance of the OG meme coin.
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