Binance’s Listing of Dogecoin Makes Waves

Dogecoin (DOGE) first gained attention in crypto when Jackson Palmer, a computer programmer, posted the now infamous Shiba Inu dog with the comment, “Pretty sure it’s the next big thing.”

The post went viral and caught the eye of programmer Billy Markus who had been working on his own cryptocurrency. Thinking dogecoin could be more than a joke, he teamed up with Palmer to develop the dogecoin cryptocurrency. It bears a similar structure to Bitcoin with a limited coin supply and POW block validation.

Despite the original sarcasm behind its creation, the technology powering dogecoin is legitimate. It has since been used across the crypto community for tipping and micropayments and is gaining further traction in the wake of Binance’s announcement.

Interest in Dogecoin Surges Post-Binance Announcement

Binance announced on Friday, June 5th that dogecoin would be available for trading starting at 12:00 PM UTC that day. The announcement led to a 40% price increase from $0.0030 to $0.045, inciting a whirlwind of news stories and social media comments.

CZ of Binance tweeted:

This calls back to Elon Musk’s April tweet:

About a month after Musk’s famous comment, Coinbase added dogecoin to its platform. Making dogecoin accessible to crypto newbies on the well-known crypto on-ramp further validated the coin’s legitimacy.

Coinbase’s announcement greased the wheel for the swirl of interest generated by Binance’s listing. Though the price later dropped from its high of $0.045 down to $0.0035, the dominos had already been set in motion. Google searches of…

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