Dogecoin (DOGE) has been trading sideways with the rest of the cryptocurrency market for the better part of the week. The meme coin saw some upside with the launch of the SpaceX Starship but was shattered shortly after when the rocket exploded in flames. However, there may be a light at the end of the tunnel for the digital asset with a new listing that brings with it the promise of an increase in the size of the meme coin.
Binance announces the TUSD/DOGE trading pair
On Thursday, Binance, the world’s largest cryptocurrency exchange by trading volume, announce A new Dogecoin trading pair will be launched. The new pair was the TUSD/DOGE pair that will allow users to trade the meme coin with Binance’s new favorite stablecoin.
Earlier in the year, Binance switched a no-fee bitcoin (BTC) trading pair from BUSD to True USD (TUSD) after Paxos, the issuer behind the BUSD stablecoin, received Wells’ notification from the US Securities and Exchange Commission (SEC). The company was ordered to stop issuing the stablecoin, which led to a significant drop in its market value as the owners scrambled to redeem their holdings.
With Binance switching from BUSD to TUSD, the popularity of the stablecoin has grown rapidly. Now, Binance has once again posted its support for TUSD as it announced the new pair for the first meme coin, which looks very bullish for Dogecoin.
The exchange announced that it will list the pair for trading on Friday, April 28th. As an added bonus, Binance is offering zero maker fees for this trading pair and added that the Binance Spot Grid for the meme coin will be enabled within 48 hours after trading begins.
Besides the TUSD/DOGE pair, Binance also announced two new trading pairs. These include the WBTC/USDT trading pair and the USDT/ARS trading pair.
DOGE seeing slight upside on Friday morning | Source: DOGEUSD on TradingView.com
Bullish news about Dogecoin
The announcement of the new trading pair on Binance is more optimistic for the meme coin. By allowing users to trade without maker fees, it will encourage Dogecoin trading on the exchange which already accounts for more than 20% of the total trading volume of DOGE.
As volume goes up with this listing, the price of the cryptocurrency is likely to go up with it. If the bullish momentum continues, Dogecoin could see a price of $0.1 over the weekend. This means a 20% increase in digital assets as well.
Interestingly, DOGE is already seeing some slight uptick in the early hours of Friday. It was trading at $0.08025 at the time of writing, up 0.72% on the 24-hour chart. However, DOGE still underperformed on the weekly chart after falling 4.77%.