14 May 2021 · 1 min read

Dogecoin Gets Another Boost from Coinbase, Elon Musk

Dogecoin (DOGE) is among the best performing top cryptoassets today as major crypto exchange Coinbase confirmed its plan to list it, while Tesla's Elon Musk said his team is helping the most popular meme coin.

Source: Twitter, @haydentiff

DOGE jumped by around 30% tonight (UTC) time following the news. At 03:27 UTC, it trades at USD 0.487 and is up by 11% in a day, trimming its weekly losses to less than 17%.

Brian Armstrong, CEO of Coinbase, said during their earnings call that the platform plans to list DOGE in the next six to eight weeks.

"Today, we use a number of factors, we look at cybersecurity around the coin to make sure that there's not going to be an issue that would cause customer loss. We also look at it from a legal point of view and a compliance point of view," the CEO said about their listing process.

Meanwhile, Musk revealed his support to Dogecoin developers as they're working "to improve system transaction efficiency," which is "potentially promising".

Among the top 10 cryptoassets today, DOGE is outperformed by cardano (ADA) (+17%) and polkadot (DOT) (+12%). Bitcoin (BTC) is down by less than 1%, ethereum (ETH) dropped by almost 3%.
____
Learn more:
- Dogecoin Needs 3 Conditions Fulfilled to Move Beyond USD 1
- Dogecoin Tops Liquidation Charts On Elon Musk Live Weekend

- DOGE’s Rally Has Revived Dogecoin Development, But For How Long?
- Are GameStop-Style Surges In Crypto Any Different From Old Pumps & Dumps?

- 'The Most Honest Sh*tcoin,' Dogecoin, Will Survive Alongside Bitcoin - Analysts
- Who Let the DOGE Clones out? Dogecoin Knockoffs Dominate DEX Trading