This Popular Meme Coin Soars Following Support From Coinbase: Details
“The opening of our 1000PEPE-PERP market will begin on or after 9:30am UTC on 23 APR 2024,” Coinbase disclosed.
TL;DR
- PEPE has outperformed other meme coins with a 6% daily and 40% weekly price increase, boosted by its addition to Coinbase’s trading program.
- Over the past year, its value has surged by approximately 1,800%, with its market capitalization currently equaling almost $3 billion.
PEPE Defies the Current Market Trend
The popular frog-themed meme coin – Pepe (PEPE) – is among the best performers in the cryptocurrency market, with its price rising by 6% on a daily scale. Moreover, its valuation is up nearly 40% over a week.
In comparison, other meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and dogwifhat (WIF) have recorded some losses in the past 24 hours.
PEPE’s latest green wave came shortly after the leading crypto exchange Coinbase expanded support to the token. Specifically, it introduced Pepe perpetual futures on Coinbase International Exchange and Coinbase Advanced.
“The opening of our 1000PEPE-PERP market will begin on or after 9:30am UTC on 23 APR 2024,” the announcement reads.
Earlier this month, the meme coin dogwifhat (WIF) also witnessed a price resurgence following similar actions from Coinbase. Its value soared by 15% after the company added WIF perpetual contracts.
PEPE’s Impressive Year
The meme coin, currently the third-largest in its realm, was launched last April and quickly became one of the market’s sensations. Its price is up approximately 1,800% yearly, while its market capitalization briefly surpassed $4 billion in March.
PEPE’s impressive performance over the past months could have been fueled by support from other exchanges (besides the aforementioned backing from Coinbase).
As CryptoPotato reported , Binance officially listed the coin in May 2023. It recently expanded trading services with it, adding PEPE among the loanable assets on Binance Loan.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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