Pepe Coin (PEPE), a frog-faced memecoin, has seen a significant spike of more than 50% after Coinbase announced it would list the token. The cryptocurrency exchange added the meme token to its listing roadmap just minutes before the official announcement. Coinbase typically takes more than a day to confirm a listing, 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 be “adding support for Pepe (PEPE) on the Ethereum network (ERC-20 token)” and warned users not to send the asset via other networks or risk losing their funds. The listing is a major milestone for Pepe Coin, increasing its accessibility to a larger pool of retail and institutional investors on one of the leading cryptocurrency exchanges.
Coinbase has specified that PEPE trading will begin “on or after 11:30 AM ET on November 13, 2024” and will begin with the PEPE-USD pair, rolling out in phases. They also mention that support for PEPE may be limited in some supported jurisdictions due to regulatory constraints. However, transfers for the asset are available on Coinbase & Coinbase International Exchange in regions where trading is supported.
News of the listing sparked an immediate reaction in the cryptocurrency market, with PEPE’s price rising as investors anticipated increased demand and liquidity. The addition of Pepe Coin to Coinbase is seen as a major step towards greater legitimacy, given Coinbase’s strict listing criteria. Since Pepe Coin is primarily traded on smaller exchanges, this listing on a globally recognized platform could lead to increased visibility and trading volume.
Analysts will be watching closely to see if PEPE can sustain its gains amid potential volatility, as its Coinbase launch could signal an exciting period for the memecoin in the cryptocurrency market. At press time, Pepe Coin’s price was up 49.23% to $0.000019 on November 13, and its 24-hour trading volume had jumped 28.13% to $8.75 billion.
Memecoin's market capitalization also skyrocketed to $7.92 billion.
Source
The post Pepe Coin Spikes 50% Following Coinbase Listing Announcement first appeared on CoinBuzzFeed.
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