- Mithun said that customers can add e-boro to their platform a day after starting on Tuesday.
- Gemini joins a growing list of platforms showing support for mem tokens for Kraken from Coinbase.
- Dogcoin jumped to a new all-time high above $ 0.58 on Tuesday.
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Cryptocurrency exchange Gemini said its client could join a growing list of platforms showing support for meme-inspired cryptocurrency, which could begin on Tuesday.
“Dogcoin is people’s money,” Gemini CEO Tyler Winklevos said in a statement. “It’s organic, unchanging, and funny.”
He said that he accepted that DogCoin is a meme coin, but that money also acts like a meme.
He said, “In the history of multi-millennium, much of the wealth (it has been shells, beads, precious metals, etc.) has become what we say people call it and believe it is”.
Steps by Gemini to add DogCoin Trading platform eToro added mem cryptocurrency on Monday.
Gemini, founded in 2014, offers over 40 cryptocurrencies for trading.
Other exchanges that allow Dogcoin trading include Kraken and Robinhood.
In April Robinhood lowered its minimum Dogcoin order size to one coin out of 10 as the meme’s wealth reached new heights.
Dogecoin has seen a blistering rally this year, thanks in part to well-known supporters such as Elon Musk, Mark Cuban, Snoop Dog rapper, and Kiss member Jean Simmons.
But some, such as billionaire and bitcoin bull Mike Novogratz, do not believe the hype.
“No, you shouldn’t buy dogecoin,” he said in an April interview with Earning Your Leisure. “You should probably sell Dogcoin, now it’s down to 42 cents. But there are a lot of uneducated investors who feel the energy of the moment and want to participate.”
As of Tuesday, DogCoin reached new all-time highs above $ 0.58, up 19,200% over the previous year and up over 760% over the past 30 days. It claims $ 70 billion in market capitalization as of Tuesday, making it the fourth largest cryptocurrency after Bitcoin, Ether and Binance Coin, according to CoinGecko.
While the DogCoin protocol issues a fixed amount of 5 billion tokens every year, Winklevos said that this fixed and annual issuance would represent a much lower percentage of Dogecoin’s total money supply.
“In other words, Dogcoin’s money supply is disinfected,” Winklevos said, comparing it to ether. “Recently, the demand for Dogcoin has outstripped its supply. As a result, its price has been moonlighted.”
Sheeba Inu-themed tokens have also benefitted from massive amounts of incentives from governments and the COVID-19 crisis, as well as epidemic-plagued boredom among retail investors.
Coinflip CEO Ben Weiss said that Momentum has accelerated investment in online forums, as people aim to pump Doggy at a price of $ 1.
But Weisz said: “Major players and corporations are unlikely to buy and manipulate the market or understand that it can be a vibrant currency.”