The price of Dogecoin jumped 21% on Tuesday afternoon as investors cheered the inclusion of the token in the Coinbase platform, according to WSJ.
- Dogecoin hovered near 41 U.S. cents, marking its highest in two weeks based on data from CoinDesk.
- Trading of Dogecoin on Coinbase Pro is expected to start on Thursday, a move that retail investors have been clamoring for.
- Investors will be able to trade Dogecoin through Coinbase Pro, the free professional platform which offers advanced charting and analytical tools.
- Dogecoin will not be available on the Coinbase general platform, which offers fewer trading options as it is geared towards newer investors.
- Popular crypto investor Elon Musk took to Twitter to respond to the development, saying, “It’s inevitable.”
- Dogecoin started as a joke in 2013 and has since grown by as much as 9,000% this year due to mainstream attention.
- Dogecoin mining involves operating fast-running computers and unlocking new tokens through solving complex mathematical puzzles.
COIN: Nasdaq is up 0.95%; while DOGE/USD is up 32.66%.