When Elon Musk tweeted that he would like to see DOGE listed on Coinbase, he probably knew that this would lead to an avalanche of Twitter users pushing to make this a reality. Due to the coin’s reputation as a meme-inspired currency, it is understandable perhaps that Coinbase is reluctant to make such an addition but can its now prolonged success help change the coin’s reputation?
When Cardano (Ada) was added to Coinbase for example, there was a huge soar in price that occurred as soon as the news was announced. If DOGE was added to the exchange site then the likelihood is that the same sort of price activity will take place. At the time of writing, DOGE has seen gains of 25% for the week.
There are a few reasons why this would be great news for DOGE holders. The first one is the inevitable increase in price, added with the extra exposure, but the other one is the nod of acceptance from the world’s biggest crypto exchange site. This wouldn’t mean anything on a logistic level as the fundamentals of DOGE will remain the same but how the world in general views Dogecoin might change.
The Campaign Starts Now
In truth, no one really knows how likely Coinbase is to be influenced by such campaigns but if they see enough call for this to happen this might eventually lead to them deciding that this is ultimately a good idea. Below are some tweets supporting this campaign.