Dogecoin (DOGE) rose sharply on Friday, climbing back above $0.50. The day before, the token fell below $0.35.
DOGE again took the fourth place in the ranking of cryptocurrencies by capitalization, pushing XRP.
Dogecoin (DOGE) soared after one of the largest crypto exchanges Coinbase announced the upcoming listing of the cryptocurrency. Adding Dogecoin to the crypto exchange will take place in 6-8 weeks.
Coinbase, which has been very selective in adding new cryptocurrencies in the past, intends to review its practices, including starting to add newly issued assets that do not have a trading history, said Coinbase CEO Brian Armstrong.
Robinhood, the stock and cryptocurrency buying app, previously capitalized on Coinbase's reluctance to add Dogecoin: DOGE is one of seven cryptocurrencies available in the app.
The growth of DOGE also contributed to the announcement of the head of Tesla Elon Musk. "We are working with Doge developers to improve the transactional efficiency of the system, "he wrote, calling what is happening" potentially promising " news.
Commentators called on Musk to specify the names of these developers, given that almost no one is engaged in the development of the cryptocurrency. "DOGE has been out of service for years, literally a joke made based on an outdated version of bitcoin with long-known vulnerabilities," wrote Blockstream CEO Adam Back.
Mnzhdu tem, mobile app development company AppSwarm Corp and blockchain research lab and startup accelerator DogeLabs.Io plans to create a global Dogecoin development team that will focus on building applications on top of the memcoin blockchain.
The development of the Dogecoin blockchain has been more sporadic than the development of other coins. Very little has been done with the base-level code in the last six years.