The price of bitcoin continues to trade within a very narrow band on Wednesday, having enjoyed a remarkable period of stability since the weekend.
This calm has extended across much of the crypto market, with other leading cryptocurrencies like Ethereum (ether), Cardano (ada) and bitcoin cash moving by less than 2 per cent over the last 24 hours.
Dogecoin has been the one notable exception, shooting up by around 10 per cent after popular crypto exchange Coinbase added the meme-based asset to its professional trading platform.
The addition of dogecoin to Coinbase Pro will allow traders to buy and sell the cryptocurrency from Thursday, 3 June, “if liquidity conditions are met”.
Dogecoin fan and unofficial spokesperson Elon Musk celebrated the news by resharing a meme showing a ‘dogecoin standard’ dust cloud enveloping the ‘global financial system’. “It’s inevitable,” the technology billionaire wrote as the caption.
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Dogecoin price rise boosted by more Musk tweets
Dogecoin continues to push back towards $0.40, spurred on by more tweets from Elon Musk.
This time the tech billionaire has shared a picture of him “as a child”, showing a mocked up image of a Shiba Inu dog with computer setup from 1980 in the background. The caption reads: “I have to keep my passion hidden from the public or I’ll be socially ostracized.”
Musk has actually bought dogecoin for his own child, revealing earlier this year that he bought some of the cryptocurrency for his baby X Æ A-Xii so that it can be a “toddler hodler”.
Source: The independent