Dogecoin doesn't trade on Coinbase but it has rallied ahead of the exchange's shares trading on the Nasdaq.
Historical experience shows that it might take until after noon ET for market makers to work out the price of the initial trade in a direct stock listing.
Crypto bulls are taking over the market in anticipation of Coinbase's direct listing.
Tax hikes could encourage profit taking in cryptocurrencies, but some investors remain bullish as ongoing stimulus could trigger inflation.
Bitcoin has picked up a tail wind in the lead up to Coinbase's stock listing on Nasdaq
"Launching a bitcoin ETF in the U.S. will be the key to normalizing the pricing of bitcoin futures," according to JPMorgan.
The listing could spur newbie investors to try cryptocurrencies.
Bitcoin prices have doubled this year, but several major altcoins have risen by many multiples.
Bitcoin struggled near $60K again; support is nearby around $58K as buyers take some profit.
Cash and carry traders seek to profit from the spread between bitcoin's price in futures and spot markets.
The price action comes just ahead of a highly anticipated Nasdaq listing for leading U.S. crypto exchange Coinbase.
Bitcoin’s struggle to retest a key resistance level at $60,000 has “dampened” market sentiment, said one trader.
The wide range shows the extreme uncertainty and risk of investing in the fast-moving cryptocurrency industry.
BTC is attempting to break above a series of lower price highs since April 1, which suggests buyers are gaining strength as sellers retreat.
Slowing bitcoin volume suggests retail traders are less active with their "stimmy" checks compared to 2020.