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 exchange DOGE with the stablecoin TrueUSD (TUSD).
TUSD, which is aiming for a 1:1 peg to the US dollar, is the fifth largest stablecoin by market capitalization.
Dogecoin is trading at USD 0.0806 at the time of writing. The ninth-ranked crypto asset by market capitalization is up 0.25% over the past 24 hours, up 2.7% over the past seven days, and up more than 7% over the past month.
DOGE is also up about 15% since the start of 2023, though it remains nearly 89% lower than its all-time high of $0.731, which it reached in May 2021.
According to the crypto analytics company, about 54% of Dogecoin investors are making money from their investments at the asset’s current price, compared to 41% who are underwater 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 poke fun at the crypto scene.
“DOGE was created 10 years ago to mock how stupid the scene was at the time. It’s even dumber now, and people just play poker against each other and try to outdo each other. It doesn’t bother me, that’s just all.”
Don’t Miss Out – Subscribe to receive crypto email alerts delivered straight to your inbox
Check price action
follow us on Twitter, Facebook And Telegram
Surf the Daily Hodl mix
Image generated: Midway through the journey
