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The world’s largest crypto exchange Binance on Wednesday said it will launch Dogecoin weekly options in Tether (USDT) pair. Elon Musk’s favorite crypto Dogecoin (DOGE) price jumps in response to Musk’s lawyers filing a motion to dismiss the Dogecoin insider trading lawsuit and Binance announcing weekly options.
Binance Adds Dogecoin To Weekly Options
According to an official announcement on August 9, Binance will launch DOGEUSDT weekly options. Users can start trading DOGEUSDT weekly options from 08:00 UTC on August 10. It will be listed every Thursday at 08:00 UTC.
The crypto exchange said the DOGEUSDT Weekly Options are European-style options contracts. Currently, Binance offers options trading in Bitcoin (BTC), Ethereum (ETH), BNB, and XRP only. Binance expanding Dogecoin support hints at an upcoming rally in DOGE price to $0.1.
Also Read: XRP Defies CoinGecko’s SEC Security Token List, Ripple CTO And Lawyer Reacts
DOGE Price Moving Higher After Announcement
DOGE price jumps 3% in the past 24 hours, with the price currently trading at $0.075. The 24-hour low and high are $0.0733 and $0.0757, respectively. Furthermore, trading volume has increased slightly by 8% in the last 24 hours, indicating interest among traders.
The price action is mostly in an ascending trendline, which shows DOGE price can rally higher. Meanwhile, Elon Musk’s earlier confirmation on X to never launch a crypto token helped bring some upside momentum to DOGE price. Also, Elon Musk’s lawyers have filed a motion to dismiss the Dogecoin insider trading class-action lawsuit.
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