This Thursday, June 3rd, 2021 which is in two days, you will finally be able to trade the popular meme coin Dogecoin on the Coinbase app through it's Pro platform. Dogecoin is the seventh-largest cryptocurrency with a market cap of $43.7 billion. The price of DOGE is up between 4% and 5% in the after hours at around 34 cents and rising. DOGE, inspired by the Shiba Inu dog was just made as a joke to it's predecessor Bitcoin. During it's inception it has been championed by Tesla CEO Elon Musk and Dallas Mavericks owner Mark Cuban sending the price as high as $0.74 last month. However after Musk's appearance on SNL and his dissatisfaction for the mining style of Bitcoin, Doge fell to as low as 19 cents sending retail investors into panic selling instead of buying the dips and averaging in. It really gained it's momentum and popularity on the Robinhood mobile app from investors through Reddit, Discord, Youtube and Facebook all inspired by the retail investor platform Wallstreet Bets. With Robinhood about to release thier IPO and also a potential wallet for crypto on their platform, we can only imagine who is gonna gain the most traffic and revenue success with Dogecoin.
Some info sourced from: Decrypt
Written and Revised by: @MotzyMadeIt
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