The rumor mill has boiled down, the bull feed has been prepared: Coinbase will start Dogecoin trading on June 3rd. The DOGE course reacts accordingly.
After the US crypto exchange Coinbase started trading Dogecoin on June 3, the DOGE price began to decline. At press time, DOGE is trading at $ 0.394 – nearly 10 percent lower than it was 24 hours ago.
Since June 1, it has already been possible to deposit DOGE on wallets at Coinbase Pro. Trading began on June 3 at 6:00 p.m. CET. Coinbase Pro spread the good news for friends of the meme coin on June 1st at around 9:00 p.m. via tweet.
Dogecoin enthusiast Elon Musk, of course, insists on surfing the media on the new Doge wave, which, for once, he did not trigger himself. Musk was on Twitter fresh material for the bottomless barrel of Dogecoin memes. A supposed “childhood picture” shows computer hardware from the 80s and Dogecoin’s heraldic animal, a Shiba Inu. On the photo you can see the words: “I have to hide my passion from the public so as not to be socially excluded”.
Grayscale CEO warns of Dogecoin hype
Meanwhile, not everyone is so uncritical about the cryptocurrency, which was once thought of as fun. Barry Silbert, CEO of Grayscale and Coindesk parent company Digital Currency Group, suggested a Dogecoin bubble at the end of May.
I’m really excited to see what DOGE can become over time. It certainly won’t go away and has one of the most passionate communities around. But it’s not worth $ 37 billion. Sorry
Silbert of the Doge community pours water into the wine. Silbert thinks a market capitalization of less than $ 1 billion is appropriate for Dogecoin – a fraction of the current $ 50 billion. He justifies this with the fact that the Dogecoin offers too little use to justify such a high market capitalization.
If the entire value of something comes from a collective belief – and not from utility or utility – then that thing is overrated. There’s another name for it, but I’ll leave that because I know it [Dogecoin] wasn’t created for that purpose or why most people loved it early on (like me),
argued the Grayscale CEO to Dogecoin creator Billy Markus.
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