LONDON – Dogecoin’s price dropped significantly after setting an impressive record, trading at $0.73 in early May. The cryptocurrency is currently rated the sixth-largest crypto in the world with a market capitalization of $48.7 billion, per CoinDesk.
The meme crypto Dogecoin has increased in price after exchange platform Coinbase added it to their market. It currently stands at $0.38, according to CoinDesk.
The platform on Thursday also launched a draw to attract more users. Coinbase is offering $300,000 in Dogecoins for one winner, $30,000 for ten, and $100 for 6,000 participants.
“Dogecoin is now on Coinbase, and we’re giving away $1.2 million in prizes to celebrate. Opt in and then buy or sell $100 in DOGE on Coinbase for your chance to win”, the platform says.
Crypto investors tweeted their aspirations and hopes for the next hike in price.
Some users were upset to witness a decrease in price, as Dogecoin was trading at $0.44 shortly after joining Coinbase.