Bitcoin

Dogecoin Starts Trading On Major Philippines Crypto Exchange

Despite poor market conditions, Dogecoin has managed to maintain its appeal. This cryptocurrency with a canine motif has continued to beat the odds and impress investors, with no indications of slowing adoption.

On March 1st, 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 great deal of enthusiasm among traders and amateurs alike.

This move by Coins.ph is important for Dogecoin, since it reflects the rising acceptance of this distinctive cryptocurrency in the mainstream financial arena.

DOGE joins a multitude of other crypto-to-fiat pairs, allowing users to trade cryptocurrencies directly using the Philippine Peso (PHP) for cheap costs.

Who Let The DOGE Out?

Along with the announcement, the tweet from the Philippine trading site posed the question, “Who let the DOGE out?”

Coins.ph is a financial technology firm established that offers a mobile wallet and an online platform for users to transfer and receive money, pay bills, and purchase and sell cryptocurrency.

The platform, which has more than 16 million members worldwide, lets people to fund their accounts via multiple channels, including bank transfers, money remittances, and e-wallets, making it a handy way for individuals to keep track of their money.

Coins.ph allows users to purchase 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 Last Two Weeks

Since its founding in 2014, it has become one of Southeast Asia’s major 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 nearly 2% in the last 24 hours. The meme coin is down 9.4% in the last two weeks, and lost 8.5% in the last 30 days, according to data from cryptocurrency market tracker Coingecko.

Elon Musk, the billionaire entrepreneur and CEO of firms such as Tesla, SpaceX, and Twitter, is well-known for his fondness for Dogecoin and has tweeted multiple times about the cryptocurrency.

His tweets frequently have a substantial impact on the price of DOGE and the entire cryptocurrency market.

Musk recently admitted jokingly that he was the one who let the “Doge” out. As a result of the tweet, the price of Dogecoin briefly increased.

But, apparently, today doesn’t quite 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 incorrect to assume that the current listing was affected by the tweet of the self-proclaimed “Dogefather.”

One of Musk’s most noteworthy tweets regarding Dogecoin occurred in December 2020, when he uploaded a Shiba Inu meme with the phrase “One Word: Doge”

That tweet caused the price of DOGE to skyrocket, with many investors associating the quick increase to Musk’s promotion.

-Featured image from Coins.ph


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