As a seasoned crypto investor who has been through the rollercoaster ride of the digital asset market, I must admit that the listing of Dogecoin (DOGE) on Binance for trading against the Japanese Yen is an exciting development. My personal journey with cryptocurrencies started when I stumbled upon a Shiba Inu meme, which was none other than the very same Kabosu that sparked the creation of DOGE. So, in a way, this listing feels like a full-circle moment for me.
As a crypto investor, it’s exciting to see Dogecoin (DOGE) finding its way back with a fresh listing on the world’s leading cryptocurrency exchange, Binance. The focus here is not just on linking DOGE to the Japanese yen, but more significantly, on expanding its reach globally rather than being confined to the Japanese division of the renowned Doge-black-and-white empire.
The listing of Dogecoin to JPY on Binance was announced yesterday, but trading only went live today. From the start of trading, the price of DOGE in yen jumped more than 13%, as the chart shows.
Despite the initial volatility, the prices soon aligned with those of similar trades across other platforms. According to Japanese crypto exchanges like Bitbank, the price surge happened exclusively on Binance.
At present, trading DOGE to JPY on the latest platform currently has a reduced premium, but it’s significantly less than before, and the difference in price per Dogecoin compared to the same transactions on Bitbank doesn’t go beyond 0.1 Japanese Yen.
DOGE and Kabosu story
Keep in mind that Dogecoin (DOGE) came to life as a digital currency inspired by a popular internet meme featuring a Shiba Inu dog named Kabosu, who was saved from an animal shelter in Japan back in 2008. With this background, the recent addition of DOGE on Binance is highly noteworthy and merits close scrutiny.
The upcoming event is a follow-up to events from March this year, where Binance initially enabled trading on its platform of Bitcoin, BNB, and Ethereum against the Japanese Yen – their main assets. At that time, they also introduced zero charges for spot trading involving this currency.
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2024-08-22 18:27