DogeCoin Sees Weekend Spike After Binance Listing

DogeCoin Sees Weekend Spike After Binance Listing

A cryptocurrency that began life as a joke is suddenly being taken a lot more seriously over the last few days, as the DogeCoin saw increases by 40% since the beginning of the weekend.

Meme-inspired altcoin, DogeCoin has caused much wow by demonstrating impressive surges in price over the weekend after its listing on Binance was announced. It had been available for trading on Binance since Friday (5th July 2019) with the option to deposit DogeCoin now available on the service.

Famous Fans

This new offering is unique in nature, as it is not really a purpose-built coin. Although it has been found as a deposit method in some online venues, such as at online casinos and on Air Bnb, it was not considered a front running coin in terms of functionality.

Speaking about DogeCoin’s listing Changpeng Zhao, aka CZ  the CEO of Binance, referenced this, as well as its popularity on Twitter. He tweeted “This one is an exception, as there isn’t much new tech development (I guess it was never about the tech for this one). The users/community is large, and a famous “ex-CEO” (cough @elonmusk) helps!”

The latter comment is a reference to Elon Musk, the famed CEO of Tesla. Who had previously cited DogeCoin as his favourite cryptocurrency in a twitter post of his own, describing it as “brilliant.” He is not alone though, with Vitalik Buterin, co-founder of Ethereum, also stating that he is “very pro-Dogecoin”.

No doubt, these endorsements may also have done some favours for the crypto too.

Should You Run With The Doge?

The news of DogeCoin’s increase in popularity comes at an interesting time. This is because Binance, in fact, released research at the beginning of the weekend that demonstrated that coins on their platform see a larger increase than those that are not. With this being an early indicator of this proving true.

There are 5 trading pairs on offer to those who want to partake. These are made up of (DOGE/BNB), Bitcoin (BTC), Tether (USDT), Paxos Standard (DOGE/PAX) and USD Coin (DOGE/USDC), with the current market value, at the time of writing, is $0.003549 . However, be warned, while some big names have backed the crypto, some critics out there are concerned by the increase in popularity in an altcoin which began as industry joke.

They believe its rise corresponding with other coins on the market are proving very volatile at the moment, after good spells 2 weeks ago, is worrying and perhaps demonstrates grasping at straws. Time will tell whether this DogeCoin is really a laughing matter.

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

Binance,Bitcoin,SEPA

Binance Suspends SEPA Inward Payments Until Further Notice

Binance Suspends SEPA Inward Payments Until Further Notice Binance has just announced that it has temporarily stopped all incoming SEPA payments. As a result, users will no longer be able to deposit euros using the primary European payments network. The world’s largest cryptocurrency exchange did not provide any specific information regarding the reason behind this […]

12 July, 2021
Bitcoin,Cryptocurrency,Investment

Why are Crypto Holders Worried of Declaring Their Ownership?

Cryptocurrencies have been popularly regarded as the future of finance globally. Investing in virtual coins has become a lot easier than it was a few years ago with the evolving crypto industry. Over the last few years, Bitcoin has caused a lot of buzz in the market. It has established itself as the de facto […]

8 July, 2021
Bitcoin,CoinMarketCap,Trading

Bitcoin On The Rebound Following Elon Musk’s Latest Announcement

The price of the world’s largest cryptocurrency is rising again following the latest comments from Elon Musk. Bitcoin’s price has climbed and stayed above $40,000 on Monday 14th June, following an announcement by Musk that Tesla will, once again, start accepting BTC payments. The latest comments have proven once more what a powerful influence the […]

16 June, 2021
Bitcoin,Cryptocurrency,Regulation

Bitcoin Is Now Legal Tender In El Salvador

The world largest cryptocurrency has become a legal currency in El Salvador. Following a congressional vote held on Tuesday, a significant majority agreed to adopt Bitcoin and use it alongside the country’s other currency, the US dollar. In the words of El Salvador’s President, this decision has made “history”. Within the next 90 days, all […]

10 June, 2021
advertisement,Cryptocurrency,Google

Google Updates Its Advertising Policy To Allow Crypto Ads

Global search engine giant, Google, has announced that it will be accepting cryptocurrency advertisements targeting customers in the US. This change to the tech giant’s financial products and services ads policy is expected to be made at the start of August 2021. As a result, operators of cryptocurrency exchanges and wallets will be able to […]

8 June, 2021
Bitcoin,Coinbase,Trading

Coinbase Stock Loses Over 25% Since April IPO

It was hailed as one of the greatest moments in cryptocurrency history. The Coinbase IPO was seen as the tipping point of the sector, a moment when cryptocurrencies will finally find their well-deserved place within the financial industry. Interest was high, and when Coinbase (COIN) began trading on the Nasdaq on April 14, 2021, the […]

26 May, 2021
Bitcoin,Cryptocurrency,Social Media

Bitcoin Drops by Over 30% to $30,000 After Another of Elon Musk’s Tweets

Tesla’s CEO and among the top three richest people in the world, Elon Musk, has yet again sent Bitcoin and other altcoins on a wild ride that saw the markets bleed after massive sell-offs. In a flurry of tweets that begun on Sunday, Elon seems to have implied that Tesla would liquidate its Bitcoin holdings. […]

20 May, 2021
Blockchain,Investment,Technology

Tune In To The 4th Edition of the AIBC Pitch

On the 25th of May 2021, Dubai will once again play host to the much-anticipated Draper-Aladdin AIBC Startup Pitch. 100 companies operating in the exciting fields of AI, Blockchain, Quantum Tech, FinTech, Big Data and IoT will be showcasing their ideas to investors and other stakeholders. Up to $500,000 can be won by any single […]

16 May, 2021