Yesterday, a member of the Dogecoin reddit community brought up a conversation about the possibility of DOGE getting listed on Binance. However, from the response of one of the core team of Dogecoin (DOGE), it is not about to happen. His argument was that, other than the heavy fees that Binance charges, they also require the lead developers to sign paperwork that binds them in ways that the team does not find acceptable. To quote him,
We have a very active core development team that have been responsible for everything users are using…For over four years. Only the handling is decentralized. The project itself just like every other open source project, and public driven thing, has centralization. A common misconception is that there is no controlling forces. There is always a center point of maintenance, and gate keeping. There are however 3 core people who are actually, oddly responsible, and our lead developer is further responsible in relation to growing regulation compliance matters. It is this last bit as to why we are not there. They need our lead to sign paperwork that binds him to them in manners, and fashions we do not support nor do we endorse in any form. As such, no Binance. Even outside of the insane fee.”
Clearly, Dogecoin (DOGE) is not headed into Binance, at least not anytime soon. But, the good news is that at this point, it doesn’t matter whether Binance lists Dogecoin or not. Dogecoin is already on several major exchanges, and it’s pretty much accessible to anyone looking to invest in it, and people are investing. So far Dogecoin is one of the better performers in the market, beating close, if not all the coins listed on Binance. This goes to show that Dogecoin (DOGE) is way beyond the exchange driven hype that is characteristic of most coins.
For future growth, what Dogecoin needs is more adoption, in everyday use, and it’s advancing quite well on this front. This is evident in the heavy transaction volumes of Dogecoin (DOGE) transacted every day. It has some of the highest transaction volumes in crypto, up there together with Litecoin (LTC) and Bitcoin Cash (BCH). The reason why it has such a strong and growing use case is because it is a practical coin. Dogecoin is fast, cost-effective and very secure. These attributes make it a perfect crypto for use in value transfer online. As this use case becomes more pronounced, its value will shoot up over time, and whether exchange X or Y is listing it will, no longer be important.
The strong use case it has created in the market means that in a bull market, Dogecoin (DOGE) will emerge as a top performers. Its recent price action is testament to this. In the last 4 days, the crypto market has been relatively bullish, and has added to the momentum of Dogecoin, pushing it above $0.006, and from the weekly charts, that momentum will likely continue. In this chart, Dogecoin (DOGE) has formed a 3 white soldier’s candlestick pattern, which usually indicates a bullish reversal. As such, there is a good chance that it could test 146 satoshis in coming weeks, if the market maintains its current trajectory.