Coinbase, an American company that operates a cryptocurrency exchange platform, on Tuesday announced that cryptocurrency traders and investors can transfer their Dogecoin into their Coinbase Pro account ahead of trading expected to kick off on Thursday 3rd, June 2021.
In a blog post published by the leading exchange company, it said “Starting Today Tuesday June 1, transfer DOGE into your Coinbase Pro account ahead of trading. Support for DOGE will generally be available in Coinbase’s supported jurisdictions. Trading will begin on or after 9AM Pacific Time (PT) Thursday June 3, if liquidity conditions are met.”
Coinbase further explained that once the required liquidity is met, the company will immediately commence trading in the following Doge pairs, DOGE-USD, DOGE-BTC, DOGE-EUR, DOGE-GBP, and DOGE-USDT.
It, therefore, said trading on Coinbase “order books 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 promised to update customers via its official Twitter account as each order book moves through the phases.
Dogecoin (DOGE) was created in 2013 as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. The Dogecoin name and Shiba Inu logo are based on a meme. Unlike Bitcoin, which is designed to be scarce, Dogecoin is intentionally abundant — 10,000 new coins are mined every minute and there is no maximum supply.
According to Coinbase, “DOGE is not yet available on Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added.”
It added that customers “can sign up for a Coinbase Pro account here to start trading. For more information on trading DOGE on Coinbase Pro, visit our support page.”