It wouldn't be a week of reporting finance news in 2021 without some cryptocurrency news, and Dogecoin did not disappoint today. One of the largest cryptocurrency platforms Coinbase had previously announced their plans to support everyone's favorite meme coin, and today we got some more details.
Dogecoin (DOGE) has had a very volatile few months, but the price of a coin did rise today on the news and it is important to remind readers that the cryptocurrency has returned over 13,000% in the last year. Wow! Such performance!
This whole thing is quite silly. Dogecoin was created as a joke, and it is still being fueled by memes. This confounds older, more seasoned investors who actually try to value things based on logic and reason. Dogecoin currently trades with a market cap above $46 billion, so you can put that in your Medicare-having/AARP card-owning pipe and smoke it, grandpa.
this is why coinbase pro news happened, from the new faux CEO of dogecoin— Shibetoshi Nakamoto (@BillyM2k) June 1, 2021
i would like to see this in some well researched articles soon https://t.co/VROuAdAIJy
It remains to be seen if DOGE will hit the liquidity requirements, but Coinbase Pro is now accepting transfers of the coin. We will have to see where things stand on June 3 to see if trading begins. Keep it locked on Shacknews for even more rational market news because we totally aren't in a massive asset bubble brought on by out of control monetary policy. Right?
What do you think of Dogecoin? Is it the people's crypto? Is it worse than the tulip bubble? Are you tired of being asked questions about it? Let us know in the comments section. We really want to hear your take.
This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.