Leading Memecoin Dogecoin (DOGE) Trades Sideways as Top Crypto Exchange Binance Introduces New Trading Pair
Binance, the world’s largest crypto exchange by volume, has introduced a new trading pair for meme-inspired cryptocurrency Dogecoin (DOGE). Binance customers can now exchange the ninth-ranked digital asset by market cap with TrueUSD (TUSD), the fifth-largest stablecoin by market cap, which aims to maintain a 1:1 peg to the US dollar. DOGE has surged 15% since the start of 2023, and is up 0.25% in the past 24 hours, 2.7% in the past seven days and more than 7% in the past month. However, it remains nearly 89% down from its all-time high of $0.731 reached in May 2021. Some 54% of Dogecoin investors are making money at the current price.
Dogecoin’s founder Billy Markus, who created the cryptocurrency as a joke to satirise the crypto market, said earlier this week that he issued a warning against trading memecoins and non-fungible tokens. Markus, known on Twitter as Shibetoshi Nakamoto, said he wasn’t bothered by people trading the digital asset, but added: “It doesn’t bother me, that’s just all it is.”
About The Author
