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Coinbase lists meme currency dogecoin on its exchange

The exchange is offering investors to opt-in and purchase $100 worth of dogecoin by June 10, 2021, for a chance to win $1.2 million in prizes.

June 05, 2021 / 11:48 AM IST
Dogecoin (PC-Shutterstock)

Dogecoin (PC-Shutterstock)

Cryptocurrency exchange Coinbase launched meme currency dogecoin (DOGE) on its exchange on June 4 enabling customers to buy, sell, convert, send, receive, or store DOGE.

"We launched informational asset pages (see DOGE), as well as a new section of the Coinbase website to answer common questions about crypto," Coinbase said in a blog post adding that DOGE will be supported on Coinbase.com and in the Coinbase Android and iOS apps.

However, the timing of the listing of the meme currency was unlike the Coinbase precedent in its listing of cryptocurrencies as the exchange typically adds cryptocurrencies to its retail platform a few weeks after first listing on the professional version, Coindesk noted.

The exchange is offering investors to opt-in and purchase $100 worth of dogecoin by June 10, 2021, for a chance to win $1.2 million in prizes.

In 2013, Jackson Palmer, then an employee at Adobe, made a satirical tweet (unfortunately lost to the void) about investing in ‘Dogecoin’, his joke cryptocurrency, he did not actually think people would do it. Jackson Palmer had tied up with Billy Markus, an IBM developer, to create the cryptocurrency.

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What started as a ‘joke’ became a phenomenon in the digital cryptocurrency space. By 2014, it became the fifth-largest cryptocurrency in the world and it even spawned convention for its fans in San Francisco creatively titled "Dogecon."

DOGE has also been a favourite of Tesla and SpaceX founder Elon Musk whose tweets have contributed to the price volatility of the meme cryptocurrency.
Moneycontrol News
first published: Jun 5, 2021 11:48 am

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