‘Perception of validity’: How the market is reacting to Dogecoin on coinbase pro
“People are still going to be cautious long-term, but this debut will eventually have some ability to attract traditional investors" said Edward Moya, Senior Market Analyst at Oanda.
Retail traders have been howling at the moon ever since Tuesday’s blogpost by Coinbase saying traders on its Pro platform can begin trading dogecoin (DOGE, +13.03%) as early as Thursday, depending on “liquidity” conditions.
Dogecoin was trading at 41 cents at the time of writing, representing a 32% gain in the last 24 hours.
So, what does the listing mean for the meme cryptocurrency? We asked several analysts, fund managers and competing exchanges for their take on how the markets will receive a new market letting customers have a bite of dogecoin.
Edward Moya, Oanda
“People are still going to be cautious long-term, but this debut will eventually have some ability to attract traditional investors and not just the Robinhood/Reddit army,” said Edward Moya, Senior Market Analyst at Oanda.
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CoinDesk Analysis Team
CoinDesk
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