The largest crypto exchange in Mexico, Bitso, has listed Dogecoin. This is positive news for the meme coins, as more listings mean more exposure. However, the price of Dogecoin didn’t see any major spike following the listing. Bitso also added support to the Shiba Inu coin back in January, which makes me wonder why most exchanges are preferring SHIB over Doge when listing for the first time.
Bitso is a Mexican-based worldwide cryptocurrency exchange. Ben Peters, Pablo Gonzalez, and Daniel Vogel started it in 2014. Daniel Vogel is the company’s current CEO. Bitso was the first Latin American firm and one of the first cryptocurrency platforms to be regulated by the Gibraltar Financial Services Commission’s Distributed Ledger Technology Framework.
In 2020, the firm reported that it had reached one million consumers, 92 percent of whom were Mexicans after its transaction volume increased by more than 300 percent in eight months. Bitso also officially began operations in Argentina in February of that year.
The firm commenced operations in Brazil in May 2021 and shortly after announced a Series C financing round led by Tiger Global and Coatue that raised US$250 million, valuing the company at US$2.2 billion.
Dogecoin is a cryptocurrency founded by software programmers Billy Markus and Jackson Palmer as a “joke” in response to the rampant speculation in cryptocurrencies at the time. It is regarded as the first “meme coin,” as well as the first “dog coin.” Despite its satirical character, others see it as a viable financial opportunity.
Dogecoin’s emblem and name are based on the Shiba Inu dog from the “doge” meme. It was launched on December 6, 2013, and soon grew its own online community, eventually reaching a market valuation of more than $85 billion on May 5, 2021. It is also the current sleeve sponsor of Premier League team Watford. However, the price of Dogecoin has fallen back to a much lower $18 billion market cap and $0.1366. It hadn’t seen any major rally since the crash from Elon Musk’s SNL event when the price peaked at 74 cents.
What are your thoughts as Dogecoin is now listed on Bitso? And do you think the price of the meme currency will ever rise again? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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