Dogecoin returns to top five by market cap as Musk tweet and Coinbase listing loom

On Friday, May 14, Dogecoin (DOGE) re-entered the top five by market capitalization among cryptocurrencies. Over the past 24 hours the asset rose by 30%.

As of writing, the token was trading at $0.534. The asset’s market cap reached $72.2 billion, placing it fourth in CoinGecko’s ranking CoinGecko.

On May 13, Coinbase announced its first-quarter 2021 results. During an investor call, Armstrong said that within six to eight weeks the exchange would add support for DOGE.

Coinbase Global, Inc. announced today the release of its first quarter 2021 shareholder letter. The letter, including the company’s financial results, can be found on the Investor Relations website at https://t.co/h2LGcznWvK

— Coinbase News (@CoinbaseNews) May 13, 2021

According to Armstrong, Coinbase plans to revise listing rules. The company will allow on the platform ‘debut’ tokens that were recently issued but are already actively traded.

Earlier, after Musk’s appearance on Saturday Night Live, Dogecoin’s price fell by 25%.

Earlier, Musk suggested users vote on whether Tesla should accept payments in Dogecoin. More than 78% of respondents supported the idea.

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