Coinbase listed Pepe, a meme token created from a frog web meme that gained reputation within the early 2000s. The long-awaited itemizing adopted the current bull market that drove most cryptocurrencies to unprecedented ranges.
The crypto rally additionally pushed the valuation of PEPE to extra
than $9 billion, making it the fifteenth largest digital asset. In response to CoinMarketCap, the meme token was up 20% up to now day and 118% on the weekly chart on the time of writing. At the moment, PEPE trades at
$0.00002275.
Coinbase Embraces Meme Tokens
On Wednesday, Coinbase’s Chief Authorized Officer Paul Grewal knowledgeable
the crypto neighborhood that the trade was quickly itemizing the token.
“You may have lengthy wished the frog. Properly, quickly you will get the
frog. @coinbase is including PEPE to our itemizing roadmap with the objective of itemizing
later at present. Thanks in your endurance,”
he wrote. Curiously, Pepe’s description on CoinMarketCap states that it
goals to capitalize on the recognition of different meme tokens like Shiba Inu and
Dogecoin.
You have lengthy wished the frog. Properly, quickly you will get the frog. @coinbase is including PEPE to our itemizing roadmap with the objective of itemizing later at present. Thanks in your endurance.
— paulgrewal.eth (@iampaulgrewal) November 13, 2024
Curiously, Coinbase confronted criticism from the
crypto neighborhood on Twitter after it printed a publication article criticizing
the meme token. Within the publication, the writer described an Ethereum-based meme
coin as a coin “that has been co-opted as a hate image by alt-right teams,”
citing the Anti-Defamation League for the outline.
Previous Criticism
The tussle got here after PEPE reportedly grew to become the quickest Ethereum token to hit $1 billion amid an increase within the reputation of meme tokens. “For just a few, hypothesis on meme cash has led to
large earnings, however that doesn’t come with out dangers too, typically meme coin
frenzies even precede broad declines in Bitcoin and Ethereum,” the article added.
Like most meme tokens, PEPE founders are nameless. The
token is described as a deflationary meme coin primarily based on Ethereum. The meme
challenge reportedly has three phases in its roadmap, together with itemizing on
CoinMarketCap and making the token development on X. The challenge’s group additionally seeks to
checklist on centralized exchanges.
This text was written by Jared Kirui at www.financemagnates.com.
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