Gemini, the New York-based cryptocurrency exchange led by the Winklevoss brothers, has joined the Dogecoin (DOGE) mania by deciding to add support for this happening altcoin. This news has triggered the FOMO (Fear Of Missing Out) moment and helped the price soar by around 65%. The price of DOGE has increased from around US$0.42 to an all-time high at US$0.6953 within a few hours.
Reports say that the trading of Dogecoin against the US Dollar (DOGE/USD) will start on the Gemini trading platform’s API as well as active trader applications. DOGE’s trading will be opened on Gemini’s mobile and web applications after the initial successful rollout.
Dogecoin will be available for trade against several other fiat currency trading pairs too such as British Pound, Singapore Dollar, Hong Kong Dollar, Australian Dollar, Canadian Dollar, and Euro.
When asked about its decision of adding DOGE, Gemini said:
“Yes, [Dogecoin] a meme coin, but all money is a meme. And all money is both an idea and a matter of faith or belief in it. Over the multi-millennia history of money, the majority of money (be it shells, beads, precious metals, etc.) has been what we the people say it is and believe it is.”
With the price reaching an all-time high, DOGE’s market cap increased to US$90 billion. This means the meme coin’s market cap has surpassed that of some of the biggest corporations in the world including BMW, Nintendo, Heineken, National Bank of Australia, and Infosys. Currently, Dogecoin is the 170th most valued equity asset in the world.
In the last 7-days, 30-days, and 2021 YTD, Dogecoin’s price has increased by 104%, 1,013%, and 11,295% respectively. Since its launch in 2013, DOGE’s price has increased by more than 784,754%.
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