Dogecoin surges after Coinbase launch news

Dogecoin vaulted more than 30 percent on Wednesday after Coinbase said it will make the meme-based cryptocurrency available to users on its trading platform.

Dogecoin, a meme-based cryptocurrency popular among retail investors, surged on Wednesday, benefitting from news that digital asset exchange Coinbase will make the crypto unit available to its users on its trading platform. Coinbase said on Tuesday that it will immediately accept inbound transfers of Dogecoin via Coinbase Pro, a trading venue for professional traders. Dogecoin rose 31 percent on Wednesday to $0.41 in the wake of the Coinbase news. That pushed the cryptocurrency’s market capitalisation to $54bn, making it the sixth-largest token, according to data and market tracker CoinGecko.com.