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Dogecoin (DOGE) has surpassed many peoples expectations when it comes to user reception. Currently the 25th largest cryptocurrency in the world with over $302 million in market cap, Dogecoin took a big hit during 2018 owing to the bearish markets in cryptocurrencies

However, a top cryptocurrency exchange is now increased its backing of Dogecoin, allowing it to trade on its platform in a new USDC pair. Poloniex announced it via a tweet:

NEWS: Poloniex today is introducing the following markets for #USDC: XRP/USDC, XMR/USDC, STR/USDC, DOGE/USDC, LTC/USDC, and ZEC/USDC. Start trading here: https://t.co/Mu10TZi6Wi

— Poloniex Exchange (@Poloniex) November 16, 2018

With over $300m in Market Cap, Dogecoin also has one of the highest transaction volumes amongst other cryptocurrencies, showing that it already has significant adoption. After the news broke out, some Reddit users started building the case for DOGE, writing that the coin should be added to Binance, one of the largest cryptocurrency exchanges in the world.

A user @au80022 went on to say:

“I’m glad Poloniex is starting to make moves again, once circle bought them, it’s like instead of making shit better they were just delisting dead projects.”

Poloniex also added XRP/USDC, XMR/USDC, STR/USDC, ZEC/USDC, and LTC/USDC pairs.

Dogecoin had a bullish run in September increasing by more than 150%; however, the last five weeks has been the opposite for the price of Doge as it has declined and given back all those gains.

The announcement by Poloniex may have been expected to cause a rise in price, but that has not been the case so far. If Dogecoin were to be listed on a major exchange like Coinbase or Binance this would be expected to provide a boost in price, but there are no guarantees.

If Bitcoin and the cryptocurrency market as a whole were to become more bullish, then Dogecoin would likely be lifted with the tide too. An increase in adoption and use of Dogecoin would be another key scenario where Doge’s price may increase. Dogepal revealed to Blokt in an interview that they are working to introduce their Dogecoin payment system to mom and pop style businesses, farmers markets and coffee shops which would increase adoption.

Dogecoin Now Trades Against USDC on Poloniex was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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