American-based cryptocurrency exchange giant, Coinbase announced its support for the Dogecoin (DOGE) in its crypto wallet app.
Users are now able to store Dogecoin directly on the Coinbase’s Wallet app. Before this new update, the app had already supported other digital currencies — bitcoin (BTC), Ethereum (ETH), bitcoin cash (BCH), Ethereum classic (ETC), Ripple (XRP), and Stellar Lumens (XLM). To add assistance to developers and power users, DOGE Testnet is also available.
Founded in 2013, at first, Dogecoin was created as a joke currency, featuring the famous Shiba Inu from the “doge” meme as the logo. Jackson Palmer – the father of this cryptocurrency – founded it in an attempt to make fun of the trend surrounding cryptocurrency in Silicon Valley at the time.
September 2018, infamous inventor and CEO of Tesla Elon Musk contacted Palmer about “annoying” cryptocurrency scammers on Twitter. Responding to that, he provided Musk with a script that he claimed to be the solution to the problem.
At the time of writing, Dogecoin is ranked 28th on CoinMarketCap, with a trading rate of $0.0027. DOGE’s market cap is currently reaching the $320 million milestones, with a 24-hour-volume around $40 million.
Earlier this year, Coinbase successfully performed the first Over-the-Counter (OTC) transaction from a cold wallet, giving the users the ability to double check pricing details and verify the transactions before executing the final trade, reported by The Crypto Sight on March 17.