The digital currency Dogecoin continued to achieve continuous gains for the second day in a row, during trading today, Thursday, June 3rd. Digital currency has skyrocketed since the middle of next week.
Dogecoin reaches the price of 0.4 USD
This has allowed the Dogecoin crypto bulls to regain some ground they lost in the massive crash of the cryptocurrency market last May.
Dogecoin fell to $0.21 before recovering briefly, surpassing $0.35. However, the cryptocurrency has continued to make gains and is currently at $0.429.
Coinbase Pro Adds Support for DOGE Cryptocurrency Trading
Coinbase Pro added support for DOGE cryptocurrency trading, which was a breath of fresh air for the popular meme coin. Investors welcomed the move with open arms, interpreting the event as confirmation of Dogecoin’s legitimacy. Moreover, some investors believed that digital currency could begin to be accepted as a payment method on many platforms, further encouraging mainstream adoption.
Investors began depositing digital currency DOGE at Coinbase Pro addresses on June 1. However, trading begins today, Thursday, June 3, to allow for the formation of liquidity. Several crypto and fiat currency pairs are available for buying and selling digital currency.
Dogecoin is doing great right now
After the rally caused by the listing news, the cryptocurrency extended its bullish leg significantly above $0.3. The 100 SMA and the 50 SMA barriers were overcome, allowing the bullish leg to extend past $0.4.
At the time of writing, DOGE is trading at $0.42 while the 50 SMA is embracing as immediate support. Moving Average Convergence Divergence (MACD) shows that the trend is in the hands of the bulls. With the MACD swinging in the positive territory and extending the divergence from the signal line. The cryptocurrency should rise beyond the immediate hurdle at $0.45 and may set the pace for gains targeting $0.6.
As CoinMarketCap data shows, the cryptocurrency has gained 10.23% over the past 24 hours. The DOGE cryptocurrency has increased by 23.76% over the past 7 days. As for the market value of Dogecoin, it reached 55.709 billion US dollars.