Pepe Coin (PEPE), a frog-faced memecoin, experienced a significant surge of over 50% after Coinbase announced it would list the token. The crypto exchange added the meme token to its listing roadmap just minutes before the official announcement. Coinbase typically takes more than a day to confirm listings, but in this case, they made the decision within an hour, demonstrating their confidence in PEPE’s potential.
Coinbase’s announcement on social media platform X confirmed that it would “add support for Pepe (PEPE) on the Ethereum network (ERC-20 token)” and warned users not to send the asset over other networks or risk losing their funds. The listing is a significant milestone for Pepe Coin, increasing its exposure to a larger base of retail and institutional investors on one of the leading crypto exchanges.
Coinbase specified that trading for PEPE would begin “on or after 11:30AM ET 13 November 2024” and would commence with the PEPE-USD pair, rolling out in phases. They also mentioned that support for PEPE might be restricted in some supported jurisdictions due to regulatory constraints. However, transfers for this asset are available on Coinbase & Coinbase International Exchange in the regions where trading is supported.
The news of the listing caused an immediate reaction in the crypto market, with PEPE’s price climbing as investors anticipated increased demand and liquidity. The addition of Pepe Coin to Coinbase is seen as a major step toward greater legitimacy, given Coinbase’s rigorous listing criteria. As Pepe Coin has mainly been traded on smaller exchanges, this listing on a globally recognized platform could lead to heightened visibility and trading volume.
Analysts will be watching closely to see if PEPE can sustain its gains amid potential volatility, as its debut on Coinbase could signal an interesting period for memecoins in the crypto market. At the time of press, Pepe Coin’s price had increased by 49.23% to $0.000019 on November 13, and its 24-hour trading volume had soared 28.13% to $8.75 billion.
The memecoin’s market cap also jumped to $7.92 billion.
Source
<p>The post Pepe Coin Surges 50% After Coinbase Listing Announcement first appeared on CoinBuzzFeed.</p>
