Pepe Coin (PEPE), a popular frog-faced memecoin, surged over 50% following an announcement by Coinbase that it would list the token. Just minutes before the announcement, the crypto exchange had added the meme token to its listing roadmap. While it typically takes longer than a day to confirm the listing, the exchange made the decision in less than an hour, showcasing their confidence in PEPE’s dynamics.
Coinbase Lists Pepe Coin
The news was shared on social media platform X, with Coinbase confirming that it would “add support for Pepe (PEPE) on the Ethereum network (ERC-20 token).” The team also warned users, noting, “Do not send this asset over other networks or your funds may be lost.” This listing marks a significant milestone for Pepe Coin, expanding its exposure to a larger base of retail and institutional investors on one of the leading crypto exchanges.
Coinbase will add support for Pepe (PEPE) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️ (@CoinbaseAssets) November 13, 2024
Coinbase specified that trading will begin “on or after 11:30AM ET 13 November 2024” contingent upon sufficient liquidity. Initial trading will commence with the PEPE-USD pair, rolling out in phases. The exchange highlighted that “support for PEPE may be restricted in some supported jurisdictions,” indicating that certain regions may not have full access to trading due to regulatory constraints.
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Coinbase also clarified that “transfers for this asset are available on Coinbase & Coinbase International Exchange in the regions where trading is supported,” suggesting a wider reach for PEPE outside the U.S. as well. However, users are advised to exercise caution, as Coinbase stressed that only ERC-20 transactions would be supported.
PEPE Price Surges
The announcement triggered an immediate reaction in the crypto market, with PEPE price quickly climbing as investors anticipated increased demand and liquidity. The token’s addition to Coinbase is seen as a major step toward greater legitimacy, given Coinbase’s rigorous listing criteria. As of now, Pepe Coin has been mainly traded on smaller exchanges, so this listing on a globally recognized platform could lead to heightened visibility and trading volume.
With PEPE’s price movement in response to the listing, analysts will be watching to see if it can sustain its gains amid potential volatility. The token’s debut on Coinbase could signal an interesting period for memecoins in the crypto market.
As of press time, the Pepe Coin price rocketed 49.23% $0.000019 on Wednesday, November 13. Moreover, the 24-hour trading volume for PEPE soared 28.13% to $8.75 billion. Whilst, the memecoin’s market cap jumped to $7.92 billion.
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