Just days after the famous meme coin known as Dogecoin made it headlines for its jaw-dropping rally in the market, a prominent trading venue operator group CME revealed that it has no plans to launch any future products for Elon Musk’s favorite crypto coin, per a The Block’s report.
The Chicago-based company’s confirmation comes after a Twitter handle triggered an uproar on the platform, which claimed that CME is launching Dogecoin futures. Even though several people related to the company revealed that it has no plans for such adventures. Meanwhile, the CME, which launched its Bitcoin futures a couple of years ago, refused to comment.
CHICAGO MERCANTILE EXCHANGE SAID TO LAUNCH DOGECOIN FUTURES
— First Squawk (@FirstSquawk) April 18, 2021
Social media platforms have played quite a role in affecting the market trend. Reportedly, another Tweet that claimed that US regulatory agencies are planning to charge people with money laundering crimes is believed to be behind the downward trend and a flurry of liquidations.
Mark Cuban and Tesla’s founder Elon Musk have been the biggest supporters of this coin. And thanks to Elon’s tweet a few days ago, the doggo hit its highest.
Over the last week, the coin, which initially started as a joke, has been skyrocketing and hit the $40 billion market cap number. Although Dogecoin surged this weekend, it later plunged 3.2 percent.