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Dogecoin Gets New Trading Pair on Leading US Cryptocurrency Exchange: Details
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Kraken Pro, an advanced cryptocurrency trading platform, announced the listing of a new trading pair: DOGE/GBP. This addition comes just days after the exchange introduced the DOGE/AUD pair, signaling its commitment to expanding its offerings for Dogecoin traders around the world.
The introduction of the DOGE/GBP trading pair allows traders to directly trade Dogecoin against the British Pound. This move is expected to improve liquidity and accessibility for DOGE in the cryptocurrency market, providing users with more options to interact with the popular cryptocurrency.
Earlier this week, the subsidiary of US-based cryptocurrency exchange Kraken listed the DOGE/AUD pair, which allows trading of Dogecoin against the Australian dollar (AUD). Offering direct trading pairs with fiat currencies such as the British Pound and the Australian Dollar, Kraken Pro aims to meet the growing demand for Dogecoin trading across different regions. These additions reflect the exchange’s strategy to support a diverse and global user base.
Kraken Pro’s decision to list these pairs could also be a response to the growing demand for Dogecoin, which has seen a resurgence in popularity thanks to its vibrant community and growing use cases.
Dogecoin drops 10%
The cryptocurrency market has suffered a significant downturn, with Dogecoin (DOGE) seeing a steep 10% drop in value. This drop is part of a broader market collapse that has seen liquidations surpass $410 million, hitting major cryptocurrencies including Bitcoin, Ethereum and Dogecoin.
Dogemoneta was not immune to market movements, dropping to lows of $0.1399 during Friday’s trading session before rebounding slightly. At the time of writing, DOGE fell 8.47% over the past 24 hours to $0.146.
Before the crash, Dogecoin was holding above the 50 daily SMA at $0.155, a level it has now lost amid the market crash. Dogecoin has now returned to its previous trading range, which was in mid-April until it was briefly surpassed in late May.
About the author
Tomiwabold Olajide
Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analyzes and trading predictions on estimated market trends. Tomiwabold graduated from the University of Lagos.