Dogecoin (DOGE) Hits All-Time High Ahead of Elon Musk’s Saturday Night Live (SNL) Debut
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As reports have it, Dogecoin (DOGE), a cryptocurrency created out of meme, has gained more traction with support from three exchanges within 24 hours.

On 13th January, Dogecoin (DOGE) was listed on three trading platforms, including FTX (futures and spot trading), Huobi Futures (Margin Swaps), and WazirX (Spot Trading).

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The reason why these exchanges decided to add support for Dogecoin (DOGE) at a time when its developers have not made a major announcement regarding the digital currency cannot be ascertained at press time.

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Some are speculating that the exchanges are attempting to take advantage of new and growing cryptocurrencies in the current Bitcoin rally and the price drops that are liable to follow.

Also, there is a possibility that the support of the CEO of Tesla and SpaceX, Elon Musk, who is currently the richest man in the world, has been fueling the support of the three exchanges and others.

It is also conceivable that these exchanges listed the coin for reasons of competition. In fact, a similar group listing occurred last year: in July, Binance launched Dogecoin futures, while OKEx and Bitfinex added Dogecoin spot trading, all within a day of each other.

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Dogecoin (DOGE)’s Reaction to the Listing

Today’s listings have somewhat impacted the price of DOGE, which gained about 6% in the past 24 hours. The news is also useful as a case study in the tendency of exchanges to act in unison, which makes it a good signal for cryptocurrency.

Dogecoin is currently the 35th largest cryptocurrency, with a market cap of approximately $1.1 billion. At the time of writing, DOGE is trading at $0.008607.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.