In recent days, the Binance crypto exchange platform has encountered technical problems with Dogecoin. If these problems should be resolved quickly, they are nonetheless talking!
Binance’s bug with Dogecoin
At the beginning of November, giant Binance implemented an update that did not go as planned! This upgrade caused technical bugs in particular with regard to Dogecoin (DOGE). Indeed, several users had the pleasant surprise to see DOGE credited in error on their account! Faced with this technical bug, Binance announced the suspension of dogecoin withdrawals.
Several weeks later, the problem seems to persist. So much so that Elon Musk, a big supporter of Dogecoin, has stepped up to the plate! So on Twitter he has directly questioned the CEO of Binance, Changpeng Zhao (CZ). Elon Musk asked him “what was going on with DOGE customers”. Especially, after this question, Elon Musk said he found it “obscure”…
Two weeks ago, the problem was deemed “minor” by Binance. In a recent update, the crypto platform has requalified the problem of “complex”. She clarified that withdrawals from DOGE are suspended for 10 to 14 days from November 15, 2021.
“Due to the complex nature of the issue, we anticipate a suspension of withdrawals from the DOGE network for 10 to 14 days from November 15, 2021” Binance press release
Following the technical issue, Binance asked affected users to give back DOGEs sent in error otherwise their account will be blocked. Problem, some users dispute having received dogecoins on their account.
The price of Dogecoin (DOGE)
Like many other cryptos, the price of Dogecoin is somewhat sticky. Thus, the course of the DOGE only increased by 14% over the last 60 days. Over the last 30 days and the last 7 days, it is down between 6 and 7%. For a crypto that is by nature very volatile, these percentages are low and show that Dogecoin has been stagnating for several months.
At the moment, the price of Dogecoin is 0.2 €, up 2% over the last 24 hours. The capitalization of Dogecoin is 27 billion euros, which ranks Dogecoin at 10th in the world.
Admittedly, the Dogecoin was able to regain a little lead over its rival Shiba Inu (SHIB), ranked 12th. But given the current dynamics of some cryptos like Avalanche (AVAX) (+ 42% over the last 7 days) or Crypto.com Coin (CRO) (+ 84% over the last 7 days), Dogecoin could quickly come out of the world top 10.
Unless by then, Elon Musk rages on Twitter and revives the dynamics of DOGE …
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