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New Dogecoin (DOGE) trading pair listed on leading US cryptocurrency exchange
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As part of a strategic expansion of its trading options, Kraken Pro, an advanced cryptocurrency trading platform, has announced the listing of a new Dogecoin trading pair.
In a new one tweetThe crypto platform powered by US cryptocurrency exchange Kraken has announced the addition of a new trading pair for Dogecoin (DOGE) to the Australian Dollar (AUD): DOGE/AUD.
This move indicates Kraken Pro’s commitment to diversifying its offerings and providing its users with more flexibility in their cryptocurrency trading activities.
Dogecoin, the eighth largest cryptocurrency, initially created as a joke, has evolved into a serious contender in the cryptocurrency world, with a passionate community and widespread recognition.
The introduction of new trading pairs generally improves market liquidity, giving traders more options, and thus, the introduction of the new Dogecoin trading pair remains noteworthy.
The DOGE/AUD pair is expected to open the doors for more individuals to participate in the Dogecoin market. Being paired with the Australian dollar AUD, the listing is expected to simplify the trading process for Australian users and marks a significant step in expanding Dogecoin’s reach in the cryptocurrency market.
Dogecoin Price Action
At the time of writing, Dogemoneta rose 1.52% over the past 24 hours to $0.162. Dogecoin is rising for the third consecutive day, after recovering from the low of $0.1542 on June 2.
If the rebound continues, Dogecoin bulls may attempt to push the price to the $0.174 upper barrier. This is a key resistance level to watch as a break and close above it could pave the way for a rally towards $0.21.
Conversely, if the price drops from current levels, it could indicate that bears are active at these levels. This could keep Dogecoin price trapped in the range between $0.18 and the 50-day SMA for a while. A break below the 50-day SMA would shift the short-term advantage to the bears. Dogecoin could then fall to $0.14.
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.