Why This New Listing Could Push Dogecoin Price Above $0.1
Dogecoin (DOGE) has actually been trading sideways with the remainder of the crypto market for the much better part of the week. The meme coin had actually seen some upside with the SpaceX Starship launch however crashed not long after as the rocket took off in flames. However, there might be light at the end of the tunnel for the digital possession with a brand-new listing that brings with it the pledge of increased volume for the meme coin.
Binance Announces TUSD/DOGE Trading Pair
On Thursday, Binance, the biggest cryptocurrency exchange worldwide by trading volume, revealed that it would be introducing a brand-new trading set for Dogecoin. The brand-new set was the TUSD/DOGE set that would permit users to trade the meme coin with Binance’s brand-new preferred stablecoin.
Earlier in the year, Binance had actually changed its zero-fee Bitcoin (BTC) trading set from BUSD to True USD (TUSD) after Paxos, the provider behind the BUSD stablecoin, had actually gotten a Wells Notice from the United States Securities and Exchange Commission (SEC). The company was purchased to stop providing the stablecoin, which led to an enormous decrease in its market cap as holders hurried to redeem their holdings.
With Binance’s switch from BUSD to TUSD, the stablecoin quickly grew in appeal. Now, Binance has actually spread its assistance for TUSD once again as it revealed the brand-new set for the primary meme coin, which is looking extremely bullish for Dogecoin.
The exchange revealed that it would be noting the set for trading on Friday, April 28. As an included advantage, Binance is providing absolutely no maker costs for this trading set and included that Binance Spot Grid would be allowed for the meme coin within two days after trading commences.
Alongside the TUSD/DOGE set, Binance likewise revealed 2 brand-new trading sets. These consist of the WBTC/USDT trading set and the USDT/ARS trading set.
DOGE seeing minor advantage on Friday early morning | Source: DOGEUSD on TradingView.com
Bullish News For Dogecoin
The statement of the brand-new trading set on Binance is more bullish for the meme coin. By enabling users to trade with absolutely no maker costs, it will motivate the trading of Dogecoin on the exchange which currently represents over 20% of the overall DOGE trading volume.
As the volume increases with this listing, the cost of the cryptocurrency will likely increase with it. If the bullish momentum sustains, then Dogecoin might see a cost of $0.1 coming out of the weekend. This would suggest an over 20% boost for the digital possession also.
Interestingly, DOGE is currently seeing some minor advantage in the early hours of Friday. Trading at $0.08025 at the time of composing, it is up 0.72% on the 24-hour chart. However, DOGE is still carrying out badly on the weekly chart after falling 4.77%.