Global cryptocurrency exchanges are progressively experiencing issues with Dogecoin (DOGE) withdrawals amidst Redditors pumping the altcoin up to 900% in the past two days.
On Jan. 28, a number of crypto users reported on Twitter that they were not able to withdraw their Dogecoin because of crypto exchanges temporarily halting withdrawals. The afflicted exchanges apparently included some major crypto platforms like Poloniex, and reportedly Bittrex and Yobit.
Some crypto customers reported that they signed in on Dogecoin-supporting exchanges like Poloniex to acquire some DOGE to just figure out that withdrawals were not available shortly after transferring. “We are functioning to have the pocketbook re-enabled as soon as possible, yet we don’t have a quote on the timeline presently,” Poloniex consequently introduced.
Binance.US, the United States-based arm of the globe’s largest cryptocurrency exchange, has likewise briefly seasoned withdrawal concerns with DOGE. Binance additionally experienced a bigger issue with crypto withdrawals on the worldwide system earlier today.
Amidst distressed withdrawals, Dogecoin has toppled from the list of the top-10 cryptocurrencies by market capitalization. At posting time, Dogecoin is the 13th largest coin by market cap.
The coin additionally saw some short hourly slumps earlier on the day. The losses were still incomparable with Dogecoin’s parabolic rise of more than 260% over the past 24 hours. At posting time, DOGE is trading at $0.047, up around 480% over the past 7 days.
As reported by Cointelegraph, Dogecoin’s ongoing rally has likely been orchestrated by the exact same Reddit group that short-squeezed supplies of Gamestop and also various other firms. Robinhood suspended Gamestop trading on Jan. 28.
At posting time, Dogecoin is trending on Twitter with nearly 800,000 states on the social media system, compared to around 170,000 tweets regarding Bitcoin.
Binance.US, the United States-based arm of the globe’s biggest cryptocurrency exchange, has also quickly seasoned withdrawal issues with DOGE. The firm introduced Friday that DOGE withdrawals were put on hold for maintenance, while down payments were also active. Binance likewise experienced a bigger problem with crypto withdrawals on the global platform earlier today.