Gamza Khanzadaev
Mysterious transfers totaling more than half a billion DOGE hint at imminent listing of Dogecoin futures on leading US exchange Coinbase
The long-awaited listing of futures for the popular meme cryptocurrency Dogecoin (DOGE) on leading U.S. exchange Coinbase appears increasingly likely, as mysterious transfers totaling nearly 557 million DOGE, equivalent to $68.7 million, were detected earlier today by Whale Alert. The transfers, originating from previously inactive wallets “DFBx6” and “DCTpB,” signal potential developments in the near future.
Both wallets, which had remained under the radar since June 2021, coinciding with Coinbase’s initial listing of Dogecoin on the spot market during the 2021 bull market, have suddenly made a major move.
Coinbase’s intention to introduce DOGE futures has been widely anticipated, with the exchange recently stating its plans following the successful listing of Bitcoin Cash (BCH) and Litecoin (LTC) earlier this month. Today’s enigmatic transfers, while not definitive confirmation, align with expectations of imminent action.
This development draws parallels to recent events involving rival platform Robinhood, which transferred three trillion Shiba Inu tokens shortly before announcing the token’s availability for trading, underscoring the potential significance behind such movements.
The timing of these transfers, coupled with Coinbase’s prior statements, fuels anticipation that Dogecoin futures could soon join the exchange’s offerings, definitely impacting the DOGE market.
As speculation mounts, questions linger regarding the true nature of these transfers. Are they routine movements by anonymous whales, or do they hint at an impending listing on Coinbase? The answers remain elusive, but one thing is certain: the anticipation surrounding Dogecoin’s potential expansion into Coinbase’s futures platform is here.