Dogecoin Soars 40% On The Week, Takes 8th Place Among Large-Cap Cryptos: Meme Coin Eyes 7th Place, USDC Next
Portfolio Pulse from Chris Katje
Dogecoin (DOGE) experienced a significant 40.1% increase over the week, surpassing other major cryptocurrencies and reaching a two-year high. This surge is attributed to increased interest following news of social media platform X, owned by Elon Musk, gaining additional state licenses for payments, and Coinbase Global's (NASDAQ:COIN) announcement of introducing futures trading for Dogecoin. Dogecoin now ranks as the eighth most valuable cryptocurrency, with a market capitalization of $30.2 billion, and eyes moving up further.
March 29, 2024 | 5:31 pm
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Coinbase Global announced plans to introduce futures trading for Dogecoin, potentially increasing trading volume and interest in the platform.
The introduction of Dogecoin futures trading by Coinbase Global is likely to attract more users and increase trading volumes on the platform, positively impacting its stock price in the short term.
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RELEVANCE 80