Coinbase and Robinhood List Meme Coin PEPE, Pepe Unchained Approaches $30m

New York, Thursday, November 14 2024 – On Wednesday Coinbase and Robinhood listed meme coin Pepe ($PEPE) in a major development for the ‘joke’ coin sector.

Image caption: Coinbase and Robinhood have listed meme coin Pepe as the meme coin sector soars in popularity

Since the PEPE announcements, the frog-themed meme coin’s price has surged nearly 73% to trade at $0.00002255.

According to CoinmarketCap data, Pepe is now the 15th most valuable digital asset in terms of market capitalization.

Coinbase followed up on the Pepe news by announcing the listing of Dogwifhat (WIF), making it the fifth meme coin to find its way onto the top US crypto exchange. Coinbase lists just three other meme coins, namely Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK).

The addition of PEPE and WIF to the Coinbase roster is a testament to the surging interest in the meme coin sector. Crypto data site estimates the value of the meme coin category at $128 billion – that’s almost the same size as Citibank, which has a market cap of $130 billion.

Stock trading app Robinhood, in addition to announcing the listing of Pepe, has now also added Ripple’s XRP token, Cardano (ADA), and Solana (SOL), a move likely influenced by the election of the crypto-friendly Trump administration and the Republican sweep of Congress.

Trump administration has ignited renewed interest in cryptocurrencies, with a more supportive regulatory environment expected

The original meme coin, Dogecoin, has also experienced spectacular recent growth of late, primarily as a result of its association with Elon Musk. This week Musk was brought into the Trump administration to lead the new Department of Government Efficiency (acronym DOGE) cost-cutting efforts.

Coinbase and Robinhood's moves represent a significant milestone for the crypto industry. They underline the mainstream appeal of meme coins as the venues seek to maximize trading volumes and the fees they can earn.

In a related development, Coinbase yesterday unveiled the COIN50 Index, designed to allow market participants to more easily track the market:

“The Coinbase 50 Index (COIN50) tracks the performance of the 50 largest and most liquid digital assets by market cap. The index applies a fundamental and market eligibility criteria screen to ensure investability.”

COIN50 constituents are weighted by market capitalization as follows:

Revolutionary Pepe Unchained ($PEPU) closes in on $30 million

And in another milestone for the meme coin category, the largest fundraising event of the year in the sector comes from a new meme coin called Pepe Unchained ($PEPU).

Built as a Layer-2 solution on Ethereum, Pepe Unchained ($PEPU) leverages Ethereum’s security while optimizing for lower fees and faster transactions.

The ecosystem will include an easy-to-use ‘two-click’ launchpad for meme coins called Pepe’s Pump Pad – it requires zero coding skills. Additional platform products include a decentralized exchange, block explorer, development grants and community proposals voting.

Pepe Unchained presale ends in 29 days after which it will list on Tier 1 crypto exchanges.