Kraken Pro, an advanced cryptocurrency trading platform, has announced the listing of a new trading pair: DOGE/GBP. This addition comes just days after the exchange introduced the DOGE/AUD pair, signaling its commitment to expanding its offerings for Dogecoin traders around the globe.
The introduction of the DOGE/GBP trading pair allows traders to directly trade Dogecoin against the British Pound. This move is expected to enhance liquidity and accessibility for DOGE in the crypto market, providing more options for users to engage with the popular cryptocurrency.
📣 New trading pair available for spot
✔️ DOGE/GBP
Start trading now: https://t.co/W0n7h066tr
*Geographic restrictions apply pic.twitter.com/zRQAK4iCjZ
— Kraken Pro (@krakenpro) June 7, 2024
Earlier this week, the subsidiary of the U.S.-based Kraken crypto exchange listed the DOGE/AUD pair, which allows Dogecoin trading against the Australian Dollar (AUD). By offering direct trading pairs with fiat currencies like the British Pound and Australian Dollar, Kraken Pro aims to accommodate the growing demand for Dogecoin trading in different regions. These additions reflect the exchange’s strategy to support a diverse and global user base.
Kraken Pro’s decision to list these pairs might also be a response to the growing demand for Dogecoin, which has seen a resurgence in popularity thanks to its vibrant community and increasing use cases.
Dogecoin dips 10%
The cryptocurrency market experienced a significant downturn, with Dogecoin (DOGE) witnessing a sharp 10% fall in value. This decline is part of a broader market crash that has seen liquidations exceed $410 million, affecting major cryptocurrencies including Bitcoin, Ethereum and Dogecoin.
Dogecoin was not immune to the market’s movements, plunging to lows of $0.1399 during Friday’s trading session before slightly rebounding. At the time of writing, DOGE was down 8.47% in the last 24 hours to $0.146.
Before the fall, Dogecoin was sustaining above the daily SMA 50 at $0.155, a level which it has now lost due to the market crash. Dogecoin has now reverted to its previous trading range, which it was in mid-April until briefly breaking above in late May.