Dogecoin starts trading on major Philippine crypto exchange
Despite poor market conditions, Dogecoin has managed to maintain its appeal. This dog-themed cryptocurrency has continued to beat the odds and impress investors, with no signs of slowing adoption.
On March 1, Coins.ph, a prominent cryptocurrency exchange in the Philippines, tweeted that it would include DOGE on its Coins Pro trading platform. This announcement has generated a lot of enthusiasm among traders and amateurs alike.
This move by Coins.ph is significant for Dogecoin as it reflects the growing acceptance of this signature cryptocurrency in the mainstream financial arena.
DOGE joins a slew of other crypto-to-fiat pairs, allowing users to trade cryptocurrencies directly using the Philippine peso (PHP) for cheap costs.
Who pretended $ DOGE out? 🐶$ DOGE (@dogecoin) will be available on Coins Pro at 14.00 today!
Start trading on Coins Pro 👉 pic.twitter.com/X4eOJQ6Czm
— Coins.ph (@coinsph) 1 March 2023
Who let the DOG out?
Along with the announcement, the tweet from the Philippine trade site asked the question, “Who let the DOGEN out?”
Coins.ph is a financial technology firm established that provides a mobile wallet and an 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 multiple channels, including bank transfers, money transfers and e-wallets, making it a convenient 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 down in the last two weeks
Since its founding in 2014, it has become one of Southeast Asia’s largest providers of digital financial services. It was acquired by former Binance CFO Wei Zhou in early April 2022.
At the time of writing, DOGE was trading at $0.0808, down almost 2% in the last 24 hours. The meme coin is down 9.4% over the past two weeks, and lost 8.5% over the past 30 days, according to data from cryptocurrency market tracker Coingecko.
Elon Musk, the billionaire founder 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 tweets often have a significant impact on the price of DOGE and the entire cryptocurrency market.
Musk recently jokingly admitted that he was the one who let the “dog” out. As a result of the tweet, the price of Dogecoin briefly increased.
But apparently today doesn’t fully reflect the meme coin’s price jump, as shown by data from Coingecko.
DOGE total market cap at $10.6 billion on the daily chart | Chart: TradingView.com
So, it would not be wrong to assume that the current entry was influenced by the tweet of the self-proclaimed “Dogefather”.
One of Musk’s most notable tweets regarding Dogecoin occurred in December 2020, when he uploaded a Shiba Inu meme with the phrase “One Word: Doge”
That tweet sent the price of DOGE soaring, with many investors attributing the rapid rise to Musk’s promotion.
– Featured image from Coins.ph
