Dogecoin Surges Over 60% After Listing on Coinone

[Asia Economy Reporter Minji Lee] The cryptocurrency Dogecoin has surged nearly 50% after being listed on the domestic exchange Coinone.

According to the cryptocurrency exchange Coinone on the 14th, Dogecoin was traded at 648.6 KRW per coin at 7:45 PM. This is a 47.14% increase from the opening price (440.8 KRW). On the same day, after Dogecoin was listed on Coinone at 4 PM (based on the start time of selling), it soared to as high as 703.0 KRW (a 59.5% increase).

Coinone photo capture

On another exchange Bithumb, which also listed Dogecoin on the same day, it is trading at 645.7 KRW per coin. This is an 11.3% increase from the opening price (580 KRW). The trading volume amounts to 27.3 billion KRW.

Earlier listed on Upbit, Dogecoin is trading at 640 KRW per coin at this time. This is a 3.9% increase from the closing price (9 AM). The trading volume reaches 7.1778 trillion KRW. Unlike stocks, cryptocurrency prices are set per exchange, so the price of the same cryptocurrency may vary slightly depending on the exchange.

Dogecoin was created in 2013 by software developers Billy Markus and Jackson Palmer as a joke, symbolized by the Japanese Shiba Inu dog, which was a popular internet meme (photos or videos trending on the internet) at the time.

The rise in Dogecoin on this day is analyzed to be influenced by Elon Musk. Musk boosted Dogecoin again just one day after announcing he would stop accepting Dogecoin payments for Tesla car purchases. Musk tweeted, "I am working with Doge developers to improve the efficiency of the Dogecoin transaction system," claiming this work is "potentially promising."