The altcoin that changed the meaning of crypto obsession for Tesla CEO Elon Musk has gone down many notches from its ATH of $0.8 since last month. However, after Coinbase Pro announced that it would list the meme crypto, the price appreciation became visible for DOGE once again. Within an hour of the news hitting the media, Dogecoin went up by 5%.
At press time, the joke coin is trading at $0.4 and seems to be on the retracing its steps to the 1 USD price point once again. Dogecoin was created as a satirical impression for cryptocurrencies. However, at present, the market cap of the altcoin has preceded $54 billion. At this stage, Dogecoin can be pitted side by side with some of the largest enterprises in the world.
Elon Musk Amuses his Followers with another Dogecoin Tweet
Other than meme altcoins, Tesla CEO Elon Musk is also fond of memes. Recently, he posted a photoshopped image of Dogecoin’s central figure the Shiba Inu in front of an ancient computer. The meme was captioned that it is a photo of his childhood. The Shiba Inu character in the meme seems to be playing chess and declaring that it has to hide its unique inclinations to prevent social isolation.
For a huge number of his followers, this meme is somewhat confusing. However, it does manage to allude to a reference about the meme crypto once again. Musk was also asked at one point that why he does not work with clean projects like ADA or IOTA. It should be noted that just like Bitcoin, DOGE also uses the proof-of-work (PoW) consensus model that is considered to create a lot of carbon-based clutter.
Asia’s Leading Banking Giant is Launching Cryptocurrencies Trading Facilities for its Consumers
Standard Charted bank is considered one of the largest banking giants of Asia. The company is said to be the 43rd largest bank in the world with impressive asset under management valued at $720 billion as of last year. Alex Manson, head of the SC ventures, recently told media that the banking unit is partnering with BC Tech. BC Technology is a crypto-focused enterprise that is responsible for operating Hong Kong-certified crypto exchange OSL.
CIO of BC Group, Usman Ahmad, told media that the new venture is looking at working with a cryptocurrency market cap worth $1 trillion. The crypto project would be technically supported by Zodia Custody allowing it to become a secure investment ecosystem for traders in Asia.