Crypto exchange Binance, one of the largest in the world, has listed a new digital asset — Dogecoin. One of the oldest tokens in crypto, Dogecoin proceeded to surge in value, posting over 35% gain in just a day.
Some memes last longer than others, and in the world of crypto, Dogecoin is the one memecoin that continues to enjoy such longevity, with its latest run in the sun happening courtesy of Binance. It is still one of the most popular crypto, despite a distinct lack of serious marketing and development in the past two years.
A huge favorite among communities who enjoy tipping and giving, due to its fast and cheap nature, DOGE began trading today, and will be offers in trading pairs against Bitcoin (BTC) and Binance Coin (BNB), as well as with stablecoins Tether (USDT), Paxos standard (PAX) and USD Coin (USDC). DOGE was already available to deposit since yesterday.
Dogecoin, despite its relatively low key presence on the crypto radar, does enjoy good spurts of growth every now and then. It’s US dollar valuation has also been on the uptrend over the long term, although it has always traded within a range of 20 to 150 satoshi for the past few years.
In September last year, after more than two years of being dormant in terms of technical development, a partnership was announced with Ethereum to work on a “Dogethereum“, using a smart contract to build a new token, which was given to DOGE holders at a rate of 1 Dogethereum per 10,000 DOGE.
That news had caused an 80% rally at the time, and this particular event will mean even more liquidity for the beloved memecoin, and potentially opening it to new owners, hence the increase in price.
Image Courtesy: Pixabay