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

Bitcoin,CoinMarketCap,Ethereum

Cryptocurrency Market Cap Jumps Past $2 Trillion

Cryptocurrencies continue to make headline news around the world as the total market cap surpassed $2 trillion on Monday. Supported by increased interest from institutional investors, celebrities, and retail investors, digital coins are now worth more than Apple Inc. Bitcoin has, once again, played a major role in the sector’s market cap. The world’s first […]

6 April, 2021
Digital Currency,Ethereum,Stablecoin

VISA Set To Support Cryptocurrency Settlements

The global payments corporation, VISA, announced on Monday that it is making preparations to allow USD Coin (USDC) to settle transactions within its network. This move is being viewed by industry analysts as yet another clear sign that cryptocurrencies are being accepted by major institutions within the traditional financial industry. USDC was selected by VISA […]

30 March, 2021
Casino,Ethereum,Gambling

CasinoFair Temporarily Shuts Down Amid Network Congestion

The popular cryptocurrency casino, CasinoFair, has announced in a recent blog post that it will be temporarily stopping its gaming services. Citing unsustainable congestion on the Ethereum network as the main reason for this pause, the casino reassured its players that it is “actively researching solutions and hope to be back with a new range […]

26 March, 2021
Bitcoin,Coinbase,CoinMarketCap

Significant Bitcoin Drops As Coinbase Announces IPO

The cryptocurrency market is back in turmoil following yet another volatile week where Bitcoin almost reached a record-breaking value of $60,000. Bitcoin drops are nothing new, but the recent 25% decrease has caused panic amongst even traders with an experience of major currency fluctuations. The latest drop comes as Coinbase, one of the world’s largest […]

1 March, 2021
Cybercrime,Scam,Trezor

Trezor Warns Users About Fake Mobile App

Trezor is warning users of a malicious mobile application featured on Google Play which appears to be associated with the wallet provider. At least 1,000 users have already downloaded this software, and it is likely that some have unwittingly provided their seed phrase to unlock their funds. Both Trezor and SatoshiLabs have confirmed the existence […]

26 January, 2021
Bitcoin,eToro,Trading

eToro Temporarily Raises Minimum Deposit To $1,000

For the past few weeks, the increase in Bitcoin’s price has led to a massive interest in cryptocurrency trading. eToro has been overwhelmed by new registrations and has decided to temporarily raise the minimum deposit from $200 to $1,000. Although 2021 has barely gotten started, it promises to be an exciting time to invest in […]

11 January, 2021
Bitcoin,Investment,Trading

Global Cryptocurrency Market Value Surpasses $1 Trillion

Thursday has proven to be a monumental day for cryptocurrencies as the world’s combined value tops the $1 Trillion mark. Energised by a substantial rise in the value of Bitcoin in recent months, the volatile crypto market has reached a once-unreachable value. Following the latest Bitcoin Halving in May 2020, the world’s largest digital token […]

10 January, 2021
Sponsored

Victory over virus: SiGMA Virtual Expo hosts 100+ exhibitors

SiGMA Europe and AIBC Virtual Expos launch with record breaking attendance, providing a cure to the industry’s events sector In the light of this year’s changes in our everyday lives, SiGMA was close to having to stop doing what it does best; creating networks for people through the company’s iconic physical events, but luckily, the […]

26 November, 2020