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New Dogecoin (DOGE) trading pair listed on major US crypto exchange
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As part of a strategic expansion of its trading options, Kraken Pro, an advanced cryptocurrency trading platform, announced the listing of a new Trading Dogecoins pair.
In a new Tweetercrypto platform powered by US-based crypto exchange Kraken has announced the addition of a new trading pair for Dogecoin (DOGE) to Australian Dollar (AUD): DOGE/AUD.
The move signifies Kraken Pro’s commitment to diversifying its offerings and providing its users with more flexibility in their cryptocurrency trading endeavors.
Dogecoin, the eighth largest cryptocurrency initially created as a joke, has become a serious contender in the world of cryptocurrencies, with a passionate community and wide recognition.
The introduction of new trading pairs generally improves market liquidity, providing traders with more options and hence the introduction of the new Dogecoin trading pair remains noteworthy.
The DOGE/AUD pair is expected to open the door for more individuals to participate in the Dogecoin market. Being compared to the Australian dollar AUD, the listing is expected to simplify the trading process for Australian users and marks an important step in expanding Dogecoin’s reach in the cryptocurrency market.
Dogecoin Price Action
At the time of writing, Dogecoin was up 1.52% in the last 24 hours to $0.162. Dogecoin is up for the third day in a row, following its rally from a low of $0.1542 on June 2.
If the rebound continues, Dogecoin bulls could attempt to push the price up to the $0.174 overhead barrier. This is a key resistance level to watch, as a breakout and close above it could pave the way for a rally to $0.21.
Conversely, if the price falls from current levels, it may indicate that the bears are active at those levels. This could keep Dogecoin price stuck in a range between $0.18 and the 50-day SMA for a while. A break below the 50-day SMA shifts short-term advantage to the bears. Dogecoin could then fall to $0.14.
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.