Coinbase will list Dogecoin on its professional trading platform on June 3

[Shawn Knight]

What just happened? US cryptocurrency exchange Coinbase has announced that users can now transfer Dogecoin into their Coinbase Pro accounts. Trading is set to begin on or after 9 a.m. Pacific on June 3, “if liquidity conditions are met,” the company said in a recent blog post.

Coinbase further said that once sufficient supply of Doge has been established on the platform, trading will launch in three phases: post-only, limit-only and full trading. “If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our trading rules,” the company added.

Coinbase CEO Brian Armstrong promised during a call with investors last month that Dogecoin would be coming to its platform soon. The cryptocurrency, which started out as a joke based on an Internet meme in 2013, is up more than 7,600 percent on the year.

Found this pic of me as a child pic.twitter.com/hUEKluRAdP

— Elon Musk (@elonmusk) June 2, 2021

(Elon Musk has been a staunch supporter of Dogecoin this year.)

Notably, Dogecoin isn’t yet available to standard Coinbase users or via its consumer mobile app, but the company said it would make a separate announcement “if and when this support is added.” Typically, Coinbase adds a cryptocurrency to its retail platform a few weeks after listing on the pro version, according to Coindesk.

Dogecoin prices spiked earlier today to around $0.44 but have since cooled to around $0.42 as of this writing.

Image credit Virrage Images

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[BadThad]

Douche Coin is just another scam to steal money from the "get rich quick" greedy.

 

[Uncle Al]

I'm holding out for Cat-Coin, otherwise my pet's might stage a revolt!

 

[QuantumPhysics]

Ponzi Schemes - no matter what they call them - are Ponzi Schemes.

dogcoin is the ultimate pump & dump.

And they already told you: "It was just a joke".

 

[terzaerian]

Leave it to Coinbase to only show up to the party after it's over again. There's no reason Dogecoin couldn't have been on the platform years ago besides crypto elitism.

 

[Lounds]

Doge coin is so slow to process transactions, it will never be a mainstream replacement for standard currency. Joke currency.

 

[terzaerian]

Doge coin is so slow to process transactions, it will never be a mainstream replacement for standard currency. Joke currency.

Exhibit A for crypto elitism.

"It's a joke currency" - yeah man, that was kind of the whole point. And crypto needs that. Dogecoin, or at least Dogecoin before Elon and his cult got their hands on it, was a great learner crypto. BTC and ETH are intimidating for people to play around with because each unit costs thousands, but people could throw around thousands of Doge for the hell of it. It was fun, approachable, and low-stakes, and they'd learn how to use crypto in the process. That's kind of important if you're trying to drive mass adoption.

At this point, the biggest threat to crypto isn't nocoiners or governments: it's the maximalists FUD'ing everyone else to pump their chosen bags.