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 keeping with CoinMarketCap, the meme token was up 20% up to now day and 118% on the weekly chart on the time of writing. Presently, PEPE trades at
$0.00002275.
Coinbase Embraces Meme Tokens
On Wednesday, Coinbase’s Chief Authorized Officer Paul Grewal knowledgeable
the crypto group that the alternate was quickly itemizing the token.
“You have got lengthy needed the frog. Properly, quickly you may get the
frog. @coinbase is including PEPE to our itemizing roadmap with the aim of itemizing
later immediately. Thanks on your endurance,”
he wrote. Apparently, Pepe’s description on CoinMarketCap states that it
goals to capitalize on the recognition of different meme tokens like Shiba Inu and
Dogecoin.
You’ve got lengthy needed the frog. Properly, quickly you may get the frog. @coinbase is including PEPE to our itemizing roadmap with the aim of itemizing later immediately. Thanks on your endurance.
— paulgrewal.eth (@iampaulgrewal) November 13, 2024
Apparently, Coinbase confronted criticism from the
crypto group on Twitter after it revealed 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 turned the quickest Ethereum token to hit $1 billion amid an increase within the reputation of meme tokens. “For a number of, hypothesis on meme cash has led to
huge 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 staff additionally seeks to
listing on centralized exchanges.
This text was written by Jared Kirui at www.financemagnates.com.