- Coinbase Advanced and Coinbase International announce PEPE listing.
- Sporting a $3 billion market cap, PEPE is one of the 4 top meme currencies.
- Previously, Coinbase had called Pepe the Frog an alt-right hate symbol.
The popular American crypto exchange Coinbase has welcomed Pepe (PEPE) to its crypto trading services. According to a tweet by Coinbase International Exchange’s official handle, Pepe Futures trading on Perpetuals will go live at 9:30 a.m. UTC on April 18, 2024.
Immediately after the surprising announcement, PEPE’s market value soared by almost 10% to reach the daily peak of $0.000007502. Soon after, PEPE retraced most of these gains to trade slightly below the confluent support of $0.000007.
Did Coinbase Switch Their Stance on PEPE?
Coinbase Advanced and Coinbase International Exchange listing the 1000PEPE token is a big surprise for most cryptocurrency aficionados. One year ago, a huge controversy followed when Coinbase sent an email to their customers, calling Pepe the Frog an ultra-right hate symbol.
The strong allegations of hatred and racism were not left unnoticed by PEPE’s community, as Coinbase’s founder and CEO Brian Armstrong was swiftly attacked with a flurry of clown memes. However, the tables have completely turned one year later, as Coinbase adds the 1,000 times multiplied version of PEPE’s smart contract.
This has raised the question of whether PEPE could land a spot market listing on Coinbase. While PEPE is available on Spot markets in the remaining TOP 10 largest crypto platforms by market capitalization, it shall be noted that Dogwifhat (WIF) also did not get a Coinbase Spot listing despite flipping the frog-embossed coin by $335 million as of press time.
On the Flipside
- Lately, PEPE lost its dominance in the meme coin department, as Solana’s Dogwifhat (WIF) surpassed PEPE by global crypto market cap to finish March with a new all-time high of $4.83.
- PEPE’s Open Interest (OI) in Derivatives markets soared by 14% following the news, while Binance’s users are the most bullish on PEPE with a 3.3 long versus short ratio.
Why This Matters
Coinbase is arguably the most regulatory-compliant cryptocurrency exchange. Its inclusion of popular memecoins in its advanced trading services gives the project’s community public recognition.
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