“Normal” Dogecoin will remain available on exchange without any restrictions
A British Virgin Islands-based cryptocurrency exchange has pulled the plug on MegaDogecoin (MDOGE), a version of Dogecoin that equals one million tokens, according to a Wednesday announcement.
Bitfinex originally listed the meme cryptocurrency in the form of MegaDogecoin back in July 2020. Users were able to trade it against the U.S. dollar, Tether’s USDT stablecoin and Bitcoin. These trading pairs will be delisted on June 13. Users are encouraged to cancel all of their remaining orders.
Major exchanges also started expanding their support for Dogecoin after a huge price increase because of viral videos on social media platform TikTok. Stuck-at-home amateur traders started hyping up the joke coin that was originally launched in 2013 as a Bitcoin parody.
Dogecoin came back in vogue in early 2021 because of Tesla CEO Elon Musk and other celebrities who started pushing the whimsical cryptocurrency further into the mainstream with frequent tweets. Because of its triumphant price rally, the “people’s crypto” became one of the most traded cryptocurrencies in the first quarter of the previous year.
Bitfinex added support for “normal” Dogecoin in April 2021, allowing users to trade it against the U.S. dollar and USDT. These pairs will remain available on the exchange.
Despite dropping 89% from its lifetime peak of $0.73, Dogecoin remains the tenth biggest cryptocurrency with a market cap of roughly $10.6 million.
As reported by U.Today, interest in Dogecoin has plunged significantly based on data provided by Google Trends.
The meme coin keeps making headlines mainly because of Musk, who recently traded barbs with co-founder Jackson Palmer.