Huobi Lists Elon Musk’s Favorite Crypto Dogecoin on its Platform

Considered among one of the oldest cryptocurrency exchanges, Huobi announced that it has now started to support Dogecoin on its trading platform. The exchange has listed three pairs for the Dogecoin cryptocurrency – DOGE/BTC, DOGE/USDT, and DOGE/ETH – and in its official statement said that Dogecoin is now available on the platform as a part of its efforts to provide high-quality options to investors. In terms of value, Dogecoin has recently experienced quite jump in its price; however, it also corrected quickly in the interim time on its Bitcoin pegging. The Dogecoin cryptocurrency was created in 2014 by Jackson Palmer, and it has got limitless supply in the market. In terms of per coin, Dogecoin value ranges from 50-100 units of Satoshis, but sometimes this value can be as high as between 200 and 300 Satoshis.

In terms of market coverage, Dogecoin is quietly widespread, and it is accepted in many places where other cryptocurrencies like Bitcoin, Ethereum, and light coins are accepted. It is important to know that Dogecoin is one of the oldest cryptocurrencies around the world which is not offered for sale by Coinbase despite having a good hash rate. The announcement from the Huobi was intentionally not made on 1st of April as it could have sent conflicting signals to the investors whether the information was a joke. Dogecoin is still seen by many as a joke, but a comprehensive analysis of this meme-based cryptocurrency review revealed that it has the potential for the investors and could help to have a higher degree of liquidity in the system.

In addition to Huobi, there are many other cryptocurrency exchanges which offer the Dogecoin for the trading pegged to different pairs of stablecoin. In terms of trading volume, Huobi is ranked eighth in the world. Recently, the comments Dogecoin’s founder, Jackson Palmer riled many cryptocurrency enthusiasts when he questioned Bitcoin’s viability. He went on further to compare Bitcoin with the internet in terms of user base, investment, and scaling. Just a couple of days ago, the founder of Tesla, Elon Musk tweeted that Dogecoin is his favorite cryptocurrency. This tweet was in response to a contest floated by Dogecoin wherein it asked the followers to elect new CEO for the cryptocurrency.

Of note is the fact the founder of Dogecoin has not been involved in any of the cryptocurrency projects – the fact that he has made very clear in his tweet informing the followers that he is in no way involved with any of the cryptocurrency projects of the company. He cautioned the followers not to fall prey of any false communication from impersonators as he has already ditched all his roles at Dogecoin.

A plug-in named Conflict of Interest which performs the analysis of Twitter users and categorizes them according to their biases towards or against the cryptocurrencies revealed that Palmer has always favored the Ethereum over Bitcoin as well as Bitcoin Cash. This also explains why the founder of Dogecoin often makes remarks critical of Bitcoin which is the world’s largest cryptocurrency by market capitalization.

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