As a researcher with a background in cryptocurrency trading, I’m excited about Kraken Pro’s recent announcement of a new Dogecoin trading pair against the Australian Dollar (DOGE/AUD). This expansion of offerings is a testament to Kraken Pro’s commitment to providing diverse and flexible trading options for its users.
As a market analyst, I’m excited to share that Kraken Pro, a sophisticated cryptocurrency trading platform, has made a strategic move by introducing a new trading pair for Dogecoin.
As a crypto market analyst, I’m excited to share that Kraken, the reputable U.S.-based cryptocurrency exchange, has recently introduced a new trading pair for Dogecoin (DOGE) against the Australian Dollar (AUD). This means DOGE/AUD is now available on their platform for users looking to trade or invest in this popular meme coin using the Australian dollar as their base currency.
This action underscores Kraken Pro’s dedication to expanding its services and granting traders a wider range of options when dealing with cryptocurrencies.
Announcement: New trading options have been introduced for spot markets. Here are the new pairs:
— Kraken Pro (@krakenpro) June 5, 2024
Dogecoin, the jokingly initiated yet eighth-largest cryptocurrency in the market, has transformed into a formidable competitor within the realm of digital currencies. Its devoted following and increasing notoriety attest to its growing significance.
Adding new trading pairs to a marketplace typically increases its liquidity, providing traders with additional choices. The recent introduction of a Dogecoin trading pair is therefore worth highlighting.
The DOGE/AUD exchange is projected to welcome more Australians into the Dogecoin trading scene. By being linked to the Australian dollar (AUD), this listing should streamline the transaction process for Aussie users, representing a substantial advancement in broadening Dogecoin’s presence within the larger cryptocurrency market.
Dogecoin price action
Currently, Dogecoin has experienced a 1.52% increase over the past 24 hours and is now priced at $0.162. Dogecoin has seen growth for three consecutive days, bouncing back from its recent low of $0.1542 on June 2nd.
If the rebound continues, the price of Dogecoin could be attempted to be pushed higher towards the resistance level of $0.174. This is an important threshold to keep an eye on as breaking and closing above it might trigger further gains towards $0.21.
If the price of Dogecoin decreases from its current position, it could be a sign that bears are in control at these prices. This situation might keep the Dogecoin price confined within the range of $0.18 and the 50-day Simple Moving Average (SMA) for some time. Should the price fall below the 50-day SMA, the short-term momentum would shift to the bears. Subsequently, Dogecoin could slide down to around $0.14.
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2024-06-06 12:18