Dogecoin Gets Another Boost from Coinbase, Elon Musk

 Dogecoin Gets Another Boost from Coinbase, Elon Musk 

Source: Twitter, @haydentiff

Dogecoin (DOGE) is among the simplest performing top cryptoassets today as major crypto exchange Coinbase

 confirmed its decide to list it, while Tesla's Elon Musk said his team helps the foremost popular meme coin.

DOGE jumped by around 30% tonight (UTC) time following the news. At 03:27 UTC, it trades at USD 0.487 and is up by 11% during a day, trimming its weekly losses to but 17%.
Brian Armstrong, CEO of Coinbase, said during their earnings call that the platform plans to list DOGE within the next six to eight weeks.

"Today, we use variety of things , we glance at cybersecurity round the coin to form sure that there is not getting to be a problem that might cause customer loss. We also check out it from a legal point of view and a compliance point of view," the CEO said about their listing process.
Meanwhile, Musk revealed his support to Dogecoin developers as they're working "to improve system transaction efficiency," which is "potentially promising".

...electricity isn’t used for transaction processing. It’s used to secure the network. Doge is PoW meaning it faces the same basic dynamics as Bitcoin. It uses less electricity now because it’s less secure.

— Ari Paul ⛓️ (@AriDavidPaul) May 13, 2021