Binance Users will be able to make withdrawals for Dogecoin (DOGE)
It had been such a long time since the meme coins had tasted the bullish run. Finally, after such a long bearish run, the meme coins have started making a comeback and they are set to grow in value.
Among all the factors affecting the price of Dogecoin (DOGE), the major factor is the recent announcement made by Binance. Just recently, the largest cryptocurrency exchange has made an announcement in regards to Dogecoin.
It is a major and promising announcement for the entire DOGE community as it will be affecting the meme coin in a positive way. Binance has announced that it has re-enabled the withdrawal facility for the meme coin.
It had been almost 20-days since the withdrawal for DOGE had been halted temporarily by Binance. Binance had announced that it was due to a bug that had been integrated into the DOGE service when it applied an upgrade to its withdrawal facility.
The entire withdrawal wallet for DOGE had been affected by the bug and the users were unable to withdraw their DOGE from the exchange. It caused a lot of concerns among the entire cryptocurrency community, especially, over 40 million users that are active on Binance.
However, on Monday, November 29, 2021, Binance announced that it has successfully restarted the withdrawal feature for DOGE on its platform.
The bug had managed to cause a lot of trouble to several users on the Binance platform. There were over 1,600 users on Binance that were wrongly sent old transactions for DOGE when they had made transaction requests.
Several other kinds of issues had taken place with DOGE causing a huge amount of concerns among the DOGE community in the entire crypto-verse. Out of the entire community, it was Binance’s DOGE community that was impacted the most.
There were several rumors pertaining to Binance removing the digital asset, which also caused many concerns among the entire cryptocurrency community. Binance currently caters to over 10% of the entire cryptocurrency community.
Therefore, if it wasn’t letting users make withdrawals for DOGE, then it was definitely raising many eyebrows.
Now that Binance has announced the restarting of the withdrawal feature for DOGE, things have started coming back to normal for the meme coin. The announcement made by Binance has even helped it regain some of its market value in the process.
The data from CoinMarketCap shows that in the past 24-hours, the price of DOGE has experienced a surge. It can be observed that DOGE’s price has experienced a 6.87% in the past 24-hours and it is currently standing at $0.219 per DOGE.
Just recently, Elon has also made a comment about DOGE through his Twitter profile calling it that the problem was sort of “shady”. This has also helped DOGE earn a rally from the investors’ end.