Top Crypto Exchange Binance Rolls Out New Dogecoin (DOGE) Trading Pair As Leading Memecoin Tracks Sideways

The world’s largest crypto exchange by volume has launched a new trading pair for Dogecoin (DOGE) as the top memecoin continues to consolidate.

Binance customers can now swap DOGE with the stablecoin TrueUSD (TUSD).

TUSD, which aims to maintain a 1:1 peg to the US dollar, is the fifth-largest stablecoin by market cap.

Dogecoin is trading at $0.0806 at time of writing. The ninth-ranked crypto asset by market cap is up 0.25% in the past 24 hours, 2.7% in the past seven days, and more than 7% in the past month.

DOGE is also up around 15% since the start of 2023, though it remains nearly 89% down from its all-time high of $0.731, which it hit in May 2021.

Around 54% of Dogecoin investors are making money on their investments at the asset’s current price, compared to 41% who are underwater, according to the crypto analytics firm IntoTheBlock.

Earlier this week, Billy Markus, the founder of Dogecoin, issued a warning against trading memecoin and non-fungible tokens (NFTs).

Markus, known on Twitter as Shibetoshi Nakamoto, also said that Dogecoin was started as a joke to make fun of the crypto scene.

“DOGE was made 10 years ago to make fun of how stupid the scene was back then. It’s even stupider now, and people are just playing poker against each other and trying to dump their bags on each other. It doesn’t bother me, that’s just all it is.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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