Dogecoin Hits the Big Leagues: Elon Musk’s Favorite Cryptocurrency Now Listed by Huobi
Veteran exchange Huobi announced today that it would be listing three pairs for Dogecoin: DOGE/BTC, DOGE/ETH, and DOGE/USDT.
Dogecoin recently experienced a significant pump but has corrected on its BTC peg in the interim. The limitless supply cryptocurrency created by Jackson Palmer in 2014 has historically ranged between 50 and 100 Satoshis per coin, sometimes reaching as high as 2-300.
The currency is widely traded and used in many places that also accept Bitcoin, Litecoin, and Ethereum, including gambling sites and payment processors. Notably, it is one of the oldest cryptocurrencies with a reasonable hashrate not to be offered by Coinbase for sale.
Huobi Calls Doge “High-Quality”
Huobi writes in their announcement:
In a dedicated effort to provide our customers with carefully vetted and high-quality trading options, we are announcing support for a new addition to the Huobi Marketplace: Dogecoin (DOGE).
Perhaps intentionally, the team did not announce this news on April fool’s day, when people might have taken that wording for a joke. While some still view Dogecoin as a “joke,” we have previously noted here that the cryptocurrency – based on a meme – maintains a high degree of liquidity and trading platforms.
You’d Be Surprised How Many Places You Can Trade Doge Against Fiat Stablecoins
Aside from Huobi, several other exchanges offer stablecoin pairs for Dogecoin, which enables traders to visualize a fiat value for the crypto. Huobi Global (hbg.com) is the eighth largest crypto exchange by trading volume, as of press time. Trading and withdrawals will begin a few hours from now, at 7 PM PST. You can deposit on Huobi.com and HBG.com.
Huobi.com was previously HBUS, the exclusive US partner of Huobi.
Dogecoin creator Jackson Palmer recently rankled some crypto community members when he went on a bit of a tirade about the viability of Bitcoin and comparisons with other networked technologies, like the Internet, in terms of investment, userbase, and scaling.
Just two days ago, Telsa CEO Elon Musk said his favorite cryptocurrency is Dogecoin – his choice might be related to Palmer helping him deal with Twitter scams some time back. Musk said:
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
The Tweet was in response to a semi-joke from the Dogecoin community about electing a CEO for the cryptocurrency. Palmer has long since abdicated any critical role in the crypto, admitting that it was started on a whim long ago and having several in-fights in the early days.
Palmer made a joke about Dogecoin recently:
Am considering selling https://t.co/fkJ7AkqCIj for $4.20B. Funding (not yet) secured.
— Jackson Palmer (@ummjackson) April 2, 2019
But the joke currency’s founder has made it publicly clear that he has no involvement in any cryptocurrency project at all, at present:
⚠️ Reminder: I am not involved with any cryptocurrency project, in any capacity. If someone tells you otherwise, they’re lying to you. I do not have a Telegram, WhatsApp or other IM account, and do not email my subscribers/followers. Beware impersonators. ⚠️
— Jackson Palmer (@ummjackson) March 31, 2019
Coinflict of Interest, a browser plugin that processes Twitter users and categorizes their cryptocurrency biases, shows that Palmer favors Ethereum over Bitcoin or Bitcoin Cash.