Coinbase Makes Dogecoin Available to Retail Investors

Coinbase retail users can now sell, buy and store dogecoin on the exchange, the company said in a blog post. To stir up interest Coinbase is running a $1.2 million dogecoin giveaway promotion.

• Investors who opt in and purchase $100 worth of dogecoin will be eligible for the promotion.
• Coinbase has launched information web pages about dogecoin, and a section that addresses frequent questions about cryptocurrency.
• On Tuesday, the exchange announced that it was adding the meme-based cryptocurrency to its professional trading platform, Coinbase Pro.
• The timing of the latest announcement veered from Coinbase precedent in its listing of cryptocurrencies. The exchange typically adds cryptocurrencies to its retail platform a few weeks after first listing on the professional version.
• The Coinbase announcements have failed to re-boost dogecoin's price, which was down nearly 6% to $0.39 at the time of publication.
• Dogecoin is down from its all-time high of $.72 on May 7 after starting the year at a fraction of a penny.