Pepe one of the leading memecoins by market capitalization has surged by 96.9% in the past 7 days following its listing by Coinbase.
Pepe memecoin has been up there with other Top memecoins like Dogecoin and Shiba Inu in performance and has established itself as one of the leading memecoins.
Pepe memecoin is inspired by a popular internet meme from the early 2000s Pepe the Frog and has been driven to success mostly on the back of its active community.
Pepe, like other memecoins, benefitted from the Donald Trump-induced bull run which hit the crypto market on the election week and days after.
However, the memecoin has also benefitted from its recent Coinbase listing and endorsement.
A combination of both factors led to the memecoin surging by 96.9% in the last 7 days and a whopping 134% in the last 14 days.
Pepe at the time of the report is exchanging hands for $0.00002181 rising by 0.1% in the last 24 hours.
The surge experienced by Pepe memecoin pushed its market cap to $9 billion making it the 19th largest crypto asset by market capitalization per Coingecko Data.
Coinbase lists Pepe Memecoin
Coinbase, a leading cryptocurrency exchange in the United States listed Pepe memecoin on its platform over the week driving more credibility for the project.
The Bullish development was announced by Coinbase’s chief legal officer Paul Grewal to his X community confirming the listing and thanking the community for their patience so far.
“You’ve long wanted the frog. Well, soon you’ll get the frog.
Coinbase is adding PEPE to our listing roadmap with the goal of listing later today. Thanks for your patience.” Mr Grewal tweeted.
- Coinbase endorsement of Pepe comes as a surprise given that the crypto exchange took an opposite stance on the particular memecoin last year.
- Last Year, Coinbase faced criticism from the crypto community on X after it published a newsletter article criticizing the meme token.
- In the publication, the author described the Ethereum-based meme coin as a coin that has been co-opted as a hate symbol by alt-right groups citing the Anti-Defamation League for the description.
- Coinbase listing Pepe memecoin improved the project’s credibility and uplifted the reputation and credibility of memecoins.
The memecoin category before now has suffered a bad rep due to its highly volatile nature and the activities of bad actors in the sector.
What to know
- Memecoins are crypto assets inspired by internet memes or popular figures usually lacking real-world utility and driven by their community.
- Memecoins were the biggest performers of the current bullish cycle with Dogecoin outperforming all top crypto assets.