Dogecoin surges 32% following Binance listing

Dogecoin now has a market cap of more than $500 million after its listing on Binance sparked a 32% rally on Friday

One of cryptocurrency’s longest-serving coins, Dogecoin, has been listed by industry-leading exchange Binance.

Created in December 2013, Dogecoin has been a crowd favourite among the cryptocurrency space. The likes of Tesla CEO Elon Musk even gave it praise on social media earlier this year.

The listing by Binance sparked a 32% rally in the price of Dogecoin, which currently has a market cap of $512 million.

Binance issued an update to say DOGE trading pairs will be made available to customers at 12:00pm UTC on Friday, July 5.

The exchange’s CEO, Changpeng ‘CZ’ Zhao, said that the listing was an “exception” as there hasn’t been active development in recent years.

He wrote on Twitter:This one is an exception, as there isn’t much new tech development (I guess it was never about the tech for this one). The users/community is large, and a famous “ex-CEO” (cough @elonmusk) helps! Enjoy!”

In April, Elon Musk famously tweeted: “Dogecoin might be my fav cryptocurrency. It’s pretty cool.”

The tweet gained more than 10,000 replies, likes, and retweets. The overwhelming response prompted Musk to change his Twitter profile to state he was the “CEO of Dogecoin” in a frankly bizarre turn of events.

Despite the fact that Dogecoin is considered a joke by many, it is now the 27th largest cryptocurrency in circulation, overtaking the likes of Qtum and Bitcoin Gold during today’s historic rally.

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