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This Is Why Coinbase Will List Dogecoin
All eyes are on Coinbase as pressure ramps up for the popular cryptocurrency exchange to finally list Dogecoin on their platform.
Elon Musk, Dogecoin’s most prominent supporter, just yesterday tweeted his approval in favor of Dogecoin being added to Coinbase.
With Elon adding his voice to the choir, a Coinbase listing may come sooner than you think.
Here’s why Coinbase adding Dogecoin is inevitable, and why it’s a really big deal.
On Friday, I reached out to Elon on Twitter, asking if he thought that Coinbase should add Dogecoin to their platform.
Simple and to the point, Elon wasted no time in his response, with a resounding "Yes!" exclaiming his endorsement in favor of Coinbase adding Dogecoin.
Elon's voice matters, and his latest tweet may just be the straw that breaks the Coinbase camel's back.
When Elon talks, people listen.
Elon is undoubtedly one of the most influential men alive, and his support of Dogecoin could move mountains in getting Coinbase to comply with listing the dog-themed cryptocurrency.
In fact, Elon's recent pressure on Robinhood may have expedited efforts by CEO Vlad Tenev to enable cryptocurrency wallets for their customers, proving Elon's efficiency at putting pressure on high-profile exchanges.
With Robinhood rushing to distribute crypto wallets in order to dilute their Dogecoin holdings, Coinbase has a lot to gain by enabling Doge on their platform and getting ahead of one of their leading competitors.
The race is on, and Coinbase would be wise to waste no time.
Coinbase's breed bias
Coinbase is the largest digital currency exchange in the United States by volume, with over 40 cryptocurrencies listed on their platform.
With its ease-of-use, trusted security, and approved legal status in the US, Coinbase has been the place that most folks turn to when getting started in crypto.
Dogecoin has historically been ignored by Coinbase, partially because Dogecoin was treated as a joke, had a low market cap, and until recently traded only under 1 cent.
However, Dogecoin's resurrection this year has revived a renascence of enthusiasm, heralded by the self-proclaimed #DogeArmy, bringing forth a plethora of incentives for Coinbase to put Dogecoin on their platform.
Coinbase has little to gain from keeping up their breed bias.
They have a chance to gain millions of customers (and dollars) by enabling Dogecoin trading, and with the pressure on from Elon, they should be making it a priority.
Only a matter of time
Dogecoin is a legitimate cryptocurrency, with durable security, fast transaction times, and comparably low fees.
There is nothing technical about Dogecoin that should prevent it from being on Coinbase.
It has active development, engaged supporters, and surging popularity helped in part by influential folks like Elon Musk.
With its market cap at over $7 billion and positioned within the top 15 cryptocurrencies, Dogecoin is well-deserving of a place on Coinbase's esteemed exchange.
Many cryptos listed on Coinbase have a fraction of Dogecoin's market cap, with far less interest and community passion than Doge.
Dogecoin is long overdue for a place in Coinbase's alt-coin arsenal, and ramped-up pressure from Elon and the Dogecoin Army may finally turn the tide.
It's only a matter of time until Coinbase bows to the pressure and adds Dogecoin.
It just makes sense.
Follow the money
Coinbase is on the heels of a very public IPO and is said to be valued at around $100 billion dollars.
It's an opportune time for Coinbase to go public, with cryptocurrency in the mainstream spotlight due to an unprecedented bull run that has seen Bitcoin reach recent highs of over $60,000.
Going public comes with answering to public shareholders, and not listing Dogecoin on Coinbase hurts investors by not allowing revenue from Dogecoin trades to benefit the business.
Not listing Dogecoin also weakens Coinbase's reputation among potential customers and newfound cryptocurrency enthusiasts who have flocked to the meme-coin in droves.
Adding Dogecoin would help Coinbase to gain new clientele and make more money, which is what investors want more than anything.
A Coinbase listing would also turn the spotlight to other cryptocurrency exchanges like Paypal, Venmo, Cashapp, and Gemini, who would be eager to cash in and appease their customers by also adding Dogecoin to their exchanges.
The dominoes will fall, and Dogecoin will eventually be accessible to anyone who wants it, preparing the coin for its take-off to the moon and beyond.
If we follow the money, a Coinbase listing is inevitable.
A match made in heaven
Dogecoin doesn't need Coinbase, but Coinbase might need Dogecoin.
Even so, Coinbase is a big part of Dogecoin's potential future success.
If Dogecoin is to become legitimized as the future internet currency of the world then it needs to be accessible to as many folks as possible.
Coinbase could help expedite this process, giving the people access to the People's Crypto and allowing Doge to be used for spending money online.
Coinbase is missing out on millions of dollars and millions of customers by keeping the Doge out, and they can't ignore our pleas for long, especially with Elon Musk turning up the pressure.
Dogecoin and Coinbase is a match made in heaven, and all the signs point to an impending Doge listing.
With the IPO at the forefront of Coinbase's priorities, my guess is that the listing will come either immediately following the IPO or shortly before it so that Coinbase can ride on the momentum of media coverage and retail popularity.
Coinbase is planning to IPO as soon as this month, so we may soon get insight into their plans going forward.
With Dogecoin on Coinbase, more folks will have access to Doge, putting the People's Coin in the hands of the people and helping Dogecoin reach new highs.
Getting Dogecoin on Coinbase could be the catalyst that skyrockets the coin to 10 cents and beyond.
Making Dogecoin easy to access, spend, exchange, and trade will open Doge's floodgates of potential.
Coinbase will list Dogecoin - it's practical, profitable, and the pressure is on.
Dogecoin on Coinbase is inevitable, and it may happen sooner than you think.
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Disclaimer: This is not financial advice and I am not a financial advisor. The article above references an opinion for entertainment purposes only and it is not investment advice. Do your own research and consult with a licensed financial adviser before making any investment decision. Do not treat any opinion expressed in this newsletter as a specific inducement to make a particular investment. Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or cryptocurrency or to engage in any particular investment strategy. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, are not guaranteed for accuracy or completeness, do not reflect actual investment results and are not guarantees of future results. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, cryptocurrency, or financial product does not guarantee future results or returns. Dogecoin is a speculative and highly volatile asset susceptible to pump-and-dump schemes.
Disclosure: I currently own some Dogecoin, Ethereum, and Bitcoin. At the time of posting, Dogecoin is around $0.059 per coin.