Dogecoin has perhaps become the most talked about – and certainly the fastest – cryptocurrency in recent times. It had gained over 10,000% during 2021, before suffering a crash after Elon Musk hosted Saturday Night Live.
Mr. Musk has been the most famous promoter of cryptocurrency, referring to himself as “the dogefather” and pledging to use it to fund a SpaceX mission to the moon known as the Doge- 1. But he also recently expressed his concern about it, calling it a “scramble” on SNL and urging people to be careful when investing.
But even though its importance and price has skyrocketed, dogecoin has remained practically difficult to buy. Many major exchanges haven’t supported it, even though they add other “altcoins” or Bitcoin competitors.
Now, the leading cryptocurrency trading platform Coinbase has said it will add support for dogecoin in the coming weeks. The announcement came in response to the first question posed during the investor call that followed its initial results after it went public earlier this year.
Managing Director Brian Armstrong said the company wants to add more assets and dogecoin will be part of it within the next “six to eight weeks”.
“Adding assets is something that is close to my heart,” he said. “There are more and more assets created in the crypto-economy.
“I think it’s going to be something, sort of like apps in the App Store or on the iPhone where millions of those assets will eventually be created over time. the pace of adding assets, and one of those is Doge, as you mentioned, which has garnered a lot of attention recently.
“So to answer your question directly, we plan to enroll Doge in the next six to eight weeks. And more broadly, we’ll be focusing on how we can accelerate the addition of assets in the future. “
Mr. Armstrong later said that the choice to add new assets to the platform would be made using a variety of different criteria, and again stated that there were “millions of different crypto assets. “.
But he also said Coinbase would seek to “speed up” this process, to avoid the risk of “not being able to keep up” with the large amount of new assets being deployed.