American major cryptocurrency exchange Coinbase has added support for Dogecoin (DOGE) to its crypto wallet service Coinbase Wallet, according to an announcement published on May 1.
The announcement states that users can now store DOGE directly in the Coinbase Wallet app. The coin thus joined other digital currencies — bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), ethereum classic (ETC), Ripple (XRP), Stellar Lumens (XLM) — already supported by the wallet. The wallet also supports the DOGE Testnet.
DOGE was initially invented in 2013 as a joke currency, the logo of which features the likeness of a shiba inu dog from the “doge” meme. It’s inventor Jackson Palmer purportedly invented the token to poke fun at the hype surrounding cryptocurrencies in Silicon Valley at the time.
Last September, CEO of SpaceX and Tesla Elon Musk asked Palmer to help him combat "annoying" cryptocurrency scammers on Twitter. In reply, Palmer sent Musk a script that he purported could help combat the problem.
At press time, DOGE is the 27th largest cryptocurrency on CoinMarketCap by market capitalization. The coin is currently trading at $0.002, having gained 3.2% over the past 24 hours. DOGE’s market capitalization is around $309 million, while its daily trading volume is around $33.8 million.
In March, Coinbase introduced a service to link users’ accounts on its main platform to Coinbase Wallet app. The wallet can now be connected to accounts on its main platform for quick transfers from the main account to the wallet.