Coinbase has announced that it will begin accepting dogecoin inbound transfers to its professional platform Coinbase Pro on or after June 3 at 9 a.m. Pacific Time if liquidity conditions are met.
Dogecoin, the Shiba Inu-based meme currency, jumped over 30% on Wednesday after Coinbase, a US-based crypto exchange, announced it would list the token on its professional platform.
Coinbase is one of the world’s largest cryptocurrency exchanges and the first to list in the United States. The company went public on 15 April at a price of $381, but its stock has since dropped to $238 as of 1 June.
Coinbase Pro, a professional platform, is better suited for active traders. Coinbase.com and its consumer mobile apps do not yet support DOGE.
Tesla Inc. CEO Elon Musk tweeted “It’s inevitable” with a picture of the meme cryptocurrency in July 2020, bringing Dogecoin into the spotlight. After receiving attention from users on the Reddit message board, the major rally began in late January this year on speculative trading by retail investors.
DOGE can be traded in India on platforms like CoinDCX, WazirX, and CoinSwitch Kuber.
