Why This New Listing Could Push Dogecoin Price Above $0.1
Dogecoin (DOGE) has been trading sideways with the rest of the crypto market for the better part of the week. The meme coin had seen some upside with the SpaceX Starship launch but crashed soon after as the rocket exploded in flames. However, there could be light at the end of the tunnel for the digital asset with a new listing that brings with it the promise of increased volume for the meme coin. Binance Announces TUSD/DOGE Trading Pair On Thursday, Binance, the largest cryptocurrency exchange in the world by trading volume, announced that it would be launching a new trading pair for Dogecoin. The new pair was the TUSD/DOGE pair that would allow users to trade the meme coin with Binances new favorite stablecoin. Earlier in the year, Binance had switched its zero-fee Bitcoin (BTC) trading pair from BUSD to True USD (TUSD) after Paxos, the issuer behind the BUSD stablecoin, had received a Wells Notice from the US Securities and Exchange Commission (SEC). The firm was ordered to stop issuing the stablecoin, which resulted in a massive decline in its market cap as holders rushed to redeem their holdings. With Binances switch from BUSD to TUSD, the stablecoin rapidly grew in popularity.