Banking App Revolut Adding Support for Dogecoin Amid Crush of Demand

Banking app Revolut says its users can now buy and sell the meme cryptocurrency Dogecoin (DOGE) along with the 29 other digital assets offered on its platform.

The UK-based firm’s head of crypto, Ed Cooper, tells Revolut users that the platform is adding support to DOGE in response to the rising demand for the Shiba Inu-themed token.

“One of the most popular user requests over the past couple of months has been to add Dogecoin, and we have answered the call.

We have just launched Dogecoin in-app. So now keen crypto customers and those new to the game can buy and sell this popular token.”

Revolut’s listing comes after crypto exchange Coinbase rolled out support for DOGE, allowing Coinbase Pro users to trade the crypto asset on June 3rd.

Dogecoin was originally created as a joke, but with billionaire Elon Musk and other celebrities promoting and discussing the coin, DOGE is now the sixth-largest crypto asset by market cap.

Digital Currency Group CEO Barry Silbert, dubbed as the “crypto king” by CNBC, says that DOGE is here to stay despite its meme origins. He warns, however, that the token is currently overpriced.

“It is not worth $37 billion. Sorry…

If the entire value of something comes from a collective belief – and not usefulness or utility – then [DOGE] is overvalued.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/petrov-k

Source: https://dailyhodl.com/2021/06/10/banking-app-revolut-adding-support-for-dogecoin-amid-crush-of-demand/