Coinbase Pro will list Dogecoin! Dogecoin jumped upon hearing the news

Coinbase Pro announced today that it will list Dogecoin and is now open for deposits. Once liquidity conditions are met, trading will begin on or after 9 a.m. Pacific Time on June 3.

Dogecoin is the seventh largest cryptocurrency with a market value of $43.7 billion. After the news came out, Dogecoin rose in the short term, jumping to $0.33 per coin.

The gains may not seem like much relative to recent volatility in the cryptocurrency market, but Dogecoin has seen the biggest gains among the top 100 coins on CoinGecko. Bitcoin and Ethereum both fell today.

Dogecoin, a cryptocurrency that began as a joke in 2013, was worth less than a penny until this year. However, Tesla CEO Elon Musk and Dallas Mavericks owner Mark Cuban have both backed the coin, which reached as high as $0.74 last month.

According to Nonomy, Coinbase is one of the top five exchanges by daily trading volume.

Initially, DOGE will support five trading pairs, including DOGE/USD, DOGE/BTC, DOGE/EUR, DOGE/GBP and DOGE/USDT. DOGE trading will be launched in three phases, starting with passive orders, then limited trading, and finally full trading.

“If at any time, a new order book does not meet our assessment of a healthy and orderly market, we may hold that order book in one state for an extended period of time or suspend trading in accordance with our trading rules,” Coinbase said.

Dogecoin joining Coinbase will be one of the biggest crypto events of the year.

During the market frenzy, DOGE liquidations briefly surpassed Bitcoin, highlighting the high demand for the asset. Earlier this year, Twitter activity around Dogecoin also briefly surpassed Bitcoin.