Despite the poor market conditions, Dogecoin has managed to maintain its appeal. This cryptocurrency with a dog motif continues to beat the odds and impress investors, with no indication of slow adoption.
On March 1, Coins.ph, a leading cryptocurrency exchange in the Philippines, tweeted that it will include DOGE in its Coins Pro trading platform. This announcement has created a lot of excitement among traders and amateurs.
This move by Coins.ph is important for Dogecoin, as it reflects the acceptance of this distinctive cryptocurrency in the mainstream financial arena.
DOGE joins many other crypto-to-fiat pairs, allowing users to trade cryptocurrencies directly using Philippine Pesos (PHP) at low fees.
Who allows it $DOGE exit? 🐶$DOGE (@dogecoin) will be available on Coins Pro at 2PM today!
Start trading on Coins Pro 👉 https://t.co/e5MmamM1SJ pic.twitter.com/X4eOJQ6Czm
— Coins.ph (@coinsph) March 1, 2023
Who released DOGE?
Along with the announcement, a tweet from a Philippine trading site posed the question, “Who released DOGE?”
Coins.ph is an established financial technology company that offers a mobile wallet and online platform for users to transfer and receive money, pay bills, and buy and sell cryptocurrency.
The platform, which has more than 16 million members worldwide, allows people to fund their accounts through a variety of channels, including bank transfers, money orders, and e-wallets, making it an easy way for individuals to keep track of their money.
Coins.ph allows users to buy and trade cryptocurrencies such as Bitcoin, Ethereum, and other major cryptocurrencies in addition to traditional financial services.
Tesla CEO and 'Dogefather' Elon Musk. Source: Getty Images
DOGE Price Dropped In The Last Two Weeks
Since its establishment in 2014, it has become one of Southeast Asia’s leading digital financial service providers. It was purchased by former Binance CFO Wei Zhou in early April 2022.
At the time of writing, DOGE is trading at $0.0808, down nearly 2% in the last 24 hours. The meme coin is down 9.4% over the past two weeks, and has lost 8.5% over the last 30 days, according to data from cryptocurrency market tracker Coingecko.
Elon Musk, billionaire entrepreneur and CEO of companies such as Tesla, SpaceX, and Twitter, is known for his love of Dogecoin and has tweeted several times about the cryptocurrency.
His frequent tweets have a huge impact on the price of DOGE and the entire cryptocurrency market.
Musk recently admitted jokingly that he was the one who released “Doge”. As a result of the tweet, the price of Dogecoin rose briefly.
However, apparently, today is not enough to reflect the jump in the price of meme coins, as shown by data from Coingecko.
DOGE total market cap at $10.6 billion on the daily chart | Chart: TradingView.com
So, it wouldn’t be wrong to assume that the current list is influenced by the tweets of the self-proclaimed “Dogefather”.
One of Musk’s most significant tweets about Dogecoin happened in December 2020, when he uploaded a Shiba Inu meme with the phrase “One Word: Doge”
The tweet sent DOGE prices soaring, with many investors attributing the rapid rise to Musk’s promotion.
-Image shown is from Coins.ph