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Coinbase plans to list Dogecoin in the next few weeks to come




  • Coinbase plans to list the cryptocurrency within weeks
  • Elon Musk says he's working with DOGE's developers
  • Do you want Tesla to accept DOGE?- Elon Musk

The long-anticipated news for DOGECOIN holders is here as Coinbase declared it going to list dogecoin on their platform due to attention the meme coin enjoyed recently from the public.

DOGECOIN has kept its relevance even as Bitcoin struggles to cling on to $50,000, with Ether falling well below $4,000.

Elon Musk, who is under attack by the crypto lovers right now, caused a stir when he revealed that he is working with DOGE's developers to improve system transaction efficiency.

This comes days after he polled his Twitter on whether Tesla should accept meme coin as a payment method.

However, Tesla has announced that the company has suspended vehicle purchases using Bitcoin due to concerns about the rapidly increasing use of fossil fuels for bitcoin mining and transactions. "we are also looking at other cryptocurrencies that use 1% of Bitcoin's energy/transaction."

On this note, if Tesla will be going for another crypto that uses less energy, this falls on XRP and DOGE cryptos that use the least of energy of 0.0079 and 0.12 kilowatt-hours respectively for transactions, and definitely, DOGECOIN is the favourite coin for the company in which Tesla CEO Elon Musk has been promoting since a while ago.

Also, the more headline-grabbing announcement came during Coinbase's call with analysts- hot off the heels of its first-quarter results.

The very first question that CEO Brian Armstrong received concerned when the exchange's users will be able to buy and sell DOGE. Acknowledging that the digital asset has enjoyed "a lot of attention recently" (not least because of the quadruple-digit gains in his value," he said:

"We plan to list Doge in the next six to eight weeks. And then more broasly, we're going to be focused on how we can accelerate asset addition in the future."

 DOGE's current price of $0.51 means that it has largely managed to cling on to the price growth it has enjoyed in recent weeks-bouncing back from the falls seen after Elon Musk hosted Saturday Night Live last weekend.

Some analysts had warned that DOGE could be on the brink of seeing an XRP-style collapse that would cause most of its value to evaporate. But so far, at least, this has not been realized.

Data suggests that cryptocurrencies often experience a bit of a price boost after being listed by Coinbase, meaning there's a prospect of some newfound bullish momentum if DOGECOIN becomes easier for everyday consumers to buy.

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