Dogecoin (DOGE) Listing on Coinbase Might Be Imminent as These Mysterious Transfers Hint

Cover image via U.Today

The highly anticipated listing of futures for the renowned meme cryptocurrency Dogecoin (DOGE) on the prominent U.S. exchange Coinbase appears increasingly probable. Earlier today, Whale Alert detected enigmatic transfers totaling approximately 557 million DOGE, equivalent to $68.7 million. These transfers, originating from previously dormant wallets "DFBx6" and "DCTpB," indicate potential developments in the near future.

Both wallets, which had been inactive since June 2021—coinciding with Coinbase's initial spot market listing of Dogecoin during the 2021 bull market—have unexpectedly made significant movements.

Coinbase has expressed its intention to introduce DOGE futures, following the successful listing of Bitcoin Cash (BCH) and Litecoin (LTC) earlier this month. While today's transfers do not constitute definitive confirmation, they align with expectations of imminent action.

🚨 🚨 228,105,810 #DOGE (34,341,747 USD) transferred from unknown wallet to #Coinbase
https://t.co/G8TGqtW5Ws
— Whale Alert (@whale_alert) April 26, 2024

This development mirrors recent events involving Robinhood, a rival platform, which transferred three trillion Shiba Inu tokens shortly before announcing the token's availability for trading, highlighting the potential significance of such movements.

The timing of these transfers, in conjunction with Coinbase's previous statements, fuels speculation that Dogecoin futures could soon be added to the exchange's offerings, potentially impacting the DOGE market.

As anticipation grows, questions remain about the true nature of these transfers. Are they routine movements by anonymous whales, or do they foreshadow an impending listing on Coinbase? The answers remain uncertain, but one thing is clear: the anticipation surrounding Dogecoin's potential expansion into Coinbase's futures platform is palpable.