Dogecoin Price Surges 37% Following Binance Listing Announcement

The price of the popular dogecoin cryptocurrency is surging after the announcement that it will soon be listed on the Binance exchange.

Binance said in a support notice that trading will open for dogecoin (DOGE) at midday (UTC) Friday.

The exchange will at launch offer trading pairs for DOGE against Binance coin (BNB) and bitcoin (BTC), as well as the stablecoins tether (USDT), Paxos standard (PAX) and USD Coin (USDC).

Users can already deposit DOGE in preparation for trading, the exchange said.

The news has given a big boost to the price of DOGE, according to data from CoinMarketCap,

At press time, the cryptocurrency had surged by 37 percent to $0.004306.

Explaining the listing in a tweet, Binance CEO Changpeng "CZ" Zhao referenced dogecoin's popularity, saying:

"This one is an exception, as there isn't much new tech development (I guess it was never about the tech for this one). The users/community is large, and a famous "ex-CEO" (cough @elonmusk) helps!"

Back in April, soon after calling bitcoin “brilliant,” Tesla and SpaceX founder Elon Musk tweeted “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” He also briefly changed his Twitter bio to read: “CEO of Dogecoin.”

Doge dog image via the Dogecoin Foundation