Bitfinex, the major crypto exchange, has included DOGE/USDt and DOGE/USD as the new trading pairs featuring Dogecoin.
Bitfinex has now added DOGE deposits and withdrawals, allowing the exchange of Dogecoin on the platform.
Users will be able to use the conversion tool to convert their MegaDogecoin (MDOGE) on the Bitfinex network into DOGE at 1 MDOGE = 1,000,000 DOGE.
DOGE Rises
Dogecoin recently reached the top 10 cryptocurrencies by market capitalization, with a cumulative valuation that was once much greater than the same USDt, provided by Tether, a Bitfinex affiliate.
Dogecoin’s price had dropped to $0.35 after first rising above $0.41 on April 19th, 2021, setting a new all-time high, only to rise to nearly $0.42 the next day.
On the other hand, Dogecoin is on the decline today, losing up to 18% in the last 24 hours and falling to about $0.30.
This high had been hit three days earlier, after the first record on April 16th at nearly $0.4, but it remains an incredibly high valuation compared to previous highs.
A week ago, the market was already below $0.15, almost half of what it is now, despite being $0.05 a month ago.
In other words, it has increased to 236% in the last seven days, 449% in the last 30 days, and 15.855% in the last year.
The strange thing is that there is no project, roadmap, or meaningful use for Dogecoin, just a crowd seeking to inflate the price. For the time being, it has worked since it is now solely speculative cryptocurrencies; however it is unclear how long the community would be able to maintain these prices.
