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Dogecoin Gets New Trading Pair on Leading US Crypto Exchange: Details
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KrakenPro, 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 exchange Dogecoin against the British Pound. The move is expected to improve the liquidity and accessibility of DOGE in the crypto market, providing more options for users to interact with the popular cryptocurrency.
Earlier this week, American crypto exchange subsidiary Kraken listed the DOGE/AUD pair, which allows Dogecoin to be traded against the Australian dollar (AUD). By offering direct trading pairs with fiat currencies like the British Pound and the Australian Dollar, Kraken Pro aims to meet the growing demand for Dogecoin trading in 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 surge in popularity thanks to its vibrant community and increasing use cases.
Dogecoin plunges 10%
The cryptocurrency market has seen a significant slowdown, with Dogecoin (DOGE) seeing a sharp drop in value of 10%. The decline is part of a broader stock market crash that has seen liquidations exceed $410 million, affecting major cryptocurrencies including Bitcoin, Ethereum and Dogecoin.
Dogecoin is not immune to market movements, plunging to a low of $0.1399 during Friday’s trading session before rebounding slightly. At the time of writing, DOGE was down 8.47% over the past 24 hours to $0.146.
Before the fall, Dogecoin was holding above the daily 50 SMA at $0.155, a level it has now lost due to the stock market crash. Dogecoin has now returned to its previous trading range, where it was in mid-April until briefly overshooting in late May.
About the Author
Tomiwabold Olajide
Tomiwabold is an experienced cryptocurrency analyst and technical analyst. It pays special attention to cryptocurrency research, conducting comprehensive price analysis and trading forecasts on estimated market trends. Tomiwabold graduated from the University of Lagos.