Robinhood, the mobile stock trading app, announced on Tuesday that it is reducing the minimum order size for Dogecoin as the value of the cryptocurrency continues to rise.
“Very happy! Very day! We have lowered the minimum order size from $ 10 DOGE to $ 1 DOGE,” Robinhood wrote in a tweet. “You can now build your Doge Empire one coin at a time. We have also lowered the minimum order size to $ BTC (0.000001) and $ ETH (0.0001) to make it easier for anyone to invest in crypto. . “
A spokesperson for Robinhood directed News week to their tweet Tuesday after News week asked for a comment.
As Robinhood’s tweet notes, the stock trading app has also lowered the minimum order size for Bitcoin ($ BTC) and Ethereum ($ ETH).
Robinhood’s announcement comes as Dogecoin’s value continued to rise, with cryptocurrency investors dubbing April 20 as “DogeDay.”
At the time of publication, Dogecoin was trading at around $ 0.34 and had already hit an all-time high of $ 0.45 last week.
Last week, Dogecoin, which was originally created as a cryptocurrency meme, debuted on the Nasdaq and currently has a market cap of $ 44.34 billion, according to Coindesk.
Ahead of Robinhood’s announcement on Tuesday, Dogecoin investors and several popular companies celebrated the ‘Dogeday’.
“Guess what day is? #DogeDay. Tomorrow? # DogeDay420,” Snickers wrote in a tweet that included a gif of a Snickers bar with the dog Dogecoin.
Another popular candy bar, Milky Way also posted a similar tweet celebrating the writing of “Dogeday,” “CONGRATULATIONS TO #DOGEARMY ON TREND #DogeDay. @DogeCoinrise to the Milky Way not just the [moon]. “
Slim Jim also posted a tweet celebrating “DogeDay” by writing “#DOGEARMY LET’S GOOOO !!!” telling its subscribers to retweet to send the “TO THE MOON” cryptocurrency.
The rise in the price of the cryptocurrency meme has been linked to Tesla and SpaceX founder Elon Musk, who continued to post memes and tweets in favor of Dogecoin.
“It’s inevitable,” Musk wrote in a tweet showing a Dogecoin meme as a sandstorm heading into the “global financial system.”
“Doge barking on the moon,” Musk wrote in another tweet posted on April 15.
Earlier this week, the wave of investors buying Dogecoin on Robinhood caused one of the stock trading app’s systems to fail.
“On Thursday evening, interest in Dogecoin increased as it exceeded 25 cents, putting extreme pressure on crypto trading systems. While we were processing orders, one of our systems failed, which resulted in brought down our crypto ordering system. The system was recovered in about an hour meaning customers could trade with intermittent issues. We were back to normal within two hours, “Robinhood wrote in an article blog post on April 16.