Dogecoin Gets Nod from Binance
Welp, Binance has finally done it. Announced early Friday morning, Dogecoin (DOGE) will soon be added to the top crypto exchange, which has registered over $2.2 billion worth of volume in the past 24 hours.
According to a blog post on the subject matter, Binance will be listing Dogecoin against Binance Coin, Bitcoin, Tether, Paxos, and USD Coin starting on the fifth, which is just about now. Funnily enough, the listing fee for the project is “0 BNB”, presumably due to the fact that there was no paid, concerted effort to get the popular meme crypto asset listed on the exchange.
Upon the release of this news, some of crypto’s top analysts lauded Binance for its step to accept DOGE, which has been widely regarded as a joke of a digital asset. Crypto Bitlord infused a reply with some rocket ship emojis; Squeezy posted a classic Shiba Inu meme.
As a result of this news, the value of Dogecoin has absolutely surged, meaning that the so-called “Binance Effect” is clearly in action as of the time of writing this. As you can see below, the minute the announcement was unveiled, the crypto asset gained around 20%. Nice.
It isn’t clear exactly why Binance decided to take the plunge into the world of meme cryptocurrencies. But notably, both Vitalk Buterin and John McAfee, the founder of Ethereum and a prominent cybersecurity guru-turned-crypto promoter, respectively, have mentioned and lauded Dogecoin in the past few days. And, who could forget pro-crypto technologist Elon Musk’s short stint “working” for DOGE.
On April 1st, stakeholders of the cryptocurrency industry were more than happy to participate in April Fools’ Day. What flew under the radar, however, was the official Dogecoin Twitter handle’s joke vote to choose a new chief executive of the decentralized project.
While Buterin and two other industry executives were named, Elon Musk was thrown into the poll as a wildcard. The wildcard won.
Musk received the most votes of the other ‘candidates’ for the stint, and he the Tesla visionary was sure he wouldn’t be remiss to miss his mystery lap. In response to the poll, Musk claimed that Dogecoin, a long-standing digital asset for fun-loving, meme-centric netizens, might actually be his favorite cryptocurrency.
In the hours that followed, Musk took the mantle as the first (and last) ‘CEO’ of Dogecoin. The entrepreneur quickly replaced his Twitter biography with a short “CEO of Dogecoin.”
Photo by Andrew Leu on Unsplash