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Dogecoin is coming to Coinbase

CEO Brian Armstrong said the exchange would list the memecoin in six to eight weeks.

​A collectible souvenir represents the dogecoin cryptocurrency.
A collectible souvenir represents the dogecoin cryptocurrency.
Photo: Liu Junfeng/Visual China Group via Getty Images

Dogecoin, the memecoin that was sent to new heights by Elon Musk, is coming to Coinbase.

The cryptocurrency exchange announced earnings Thursday which showed strong growth in revenue, earnings and trading volume.

Coinbase CEO Brian Armstrong also said in a call with analysts that Coinbase intends to list dogecoin in six to eight weeks.

After praising the cryptocurrency in a series of tweets, prompting its price to jump, Musk panned the token on "Saturday Night Live," calling it a hustle. But he praised it Thursday, saying he was working with developers to "improve system transaction efficiency." Dogecoin's price jumped 30% on a day when most cryptocurrencies fell.

Dogecoin is the fourth most valuable cryptocurrency by total market value. Robinhood has supported dogecoin trading since 2018, and other online brokers and crypto exchanges added support for it recently.

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