Coinbase International Exchange announced the launch of perpetual futures trading for the Pepe meme coin.
Trade Pepe (PEPE) futures on Coinbase International and Coinbase Advanced platforms. Available From April 18th.
“Coinbase International Exchange will list PEPE Penalties on Coinbase International and Coinbase Advanced and begin trading on or after April 18 at 9:30 AM (UTC).”
Coinbase Announcement
Amid this news, the value of PEPE immediately rose by nearly 10%, according to CoinMarketCap. PEPE rose 6.5% in the last 24 hours, reaching $0.0000074.
Previously, Coinbase held off on listing PEPE due to its association with controversial hate symbols. However, the decision to list PEPE futures represents a change influenced by market demand and meme coin trends.
PEPE is the fourth largest meme coin by market capitalization, valued at $3 billion. The market’s enthusiasm for meme coins and PEPE’s reputation as a leading Ethereum (ETH) token likely influenced Coinbase’s decision to explore futures trading for PEPE.
PEPE’s value soared 350% in a week in early March, making it the third-largest meme coin by market capitalization, with a monthly gain of 600%. The current momentum of meme coins, marked by significant withdrawals and investments, highlights the widespread “extreme greed” sentiment among investors.