- Red hot memecoin bonanza continues as the sector grows 10.5% in one day.
- Answering to demand, Coinbase lists Pepe Token, sparking a trading frenzy.
- The PEPE price rally kicks off similarly to Shiba Inu’s post-Coinbase listing rally.
Coinbase, the most popular American crypto exchange, broke its year-long silence on PEPE’s listing on the platform. With the largest meme coin asset, Dogecoin (DOGE), leading the pack, the bullish momentum has started rotating into other blue-chip meme coins, including Shiba Inu (SHIB).
Coinbase’s announcement at 7 PM on November 13, 2024, contained a laconic answer to the frequently asked question “Wen?” raised by PEPE’s diverse community ever since Coinbase turned down the token for alleged ties to extreme far-right movements.
“You’ve Long Wanted The Frog”
The internet icon is now warmly welcomed by Coinbase’s staff, as PEPE reserved its spot among the big boys in the altcoin markets. “You’ve long wanted the frog,” acknowledged Coinbase’s CFO Paul Grewal, thanking the most popular on-chain frog’s loyal community for their patience.
“Now. PEPE is available for trading,” asserts the message, sparking a meme coin trading frenzy, evident in PEPE now scorching past $26.6 billion in 24-hour Spot trades. With demand definitely on Pepe’s side in the derivatives markets, crypto analysts are now comparing PEPE’s price since Coinbase’s listing to Shiba Inu’s Coinbase-ignited rally.
While the exploding PEPE price rally brings us to a new all-time high of $0.00002457 following Coinbase’s listing news, market watchers are examining the northward potential of SHIB’s meteoric rise after its Coinbase listing.
SHIB struck a triple-figure run, growing 864% in 23 days. Assuming a similar market reaction, crypto connoisseurs such as BecauseBitcoin founder Max expect the PEPE price to settle in three-zero territory.
As of publication time, PEPE has jumped above $0.000022, backtracking 12% from its all-time high scored 12 hours ago. Topping Dogecoin’s $24.7 billion in 24-hour trading volume, Pepe’s enormous demand adds a strong argument for the altcoin’s sustainability thesis.
On the Flipside
- Large PEPE Token holders have already started booking profits.
- One whale cashed out 526B for $10.03M, locking in a $5M profit.
- Another PEPE whale deposited 500B to Coinbase, likely to sell.
Why This Matters
Pepe Token entered crypto’s TOP 20 by global market capitalization. The internet culture-based meme coin also remains the best-performing major altcoin, yielding 1,725% returns yearly.
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