- The hot memecoin bonanza continues as the sector grows 10.5% in one day.
- In response to demand, Coinbase listed Pepe Token, sparking a trading frenzy.
- The PEPE price rally begins similarly to the rally following Shiba Inu’s Coinbase listing.
Coinbase, the most popular cryptocurrency exchange in the United States, has broken its year-long silence regarding PEPE’s listing on its platform. While Dogecoin (DOGE), the largest meme coin asset, is leading the way, bullish momentum is starting to turn to other blue-chip meme coins, including Shiba Inu (SHIB).
Coinbase’s announcement at 7 PM on November 13, 2024 contained a concise answer to the frequently asked question “Why?” It was raised by various communities in PEPE after Coinbase rejected its tokens over claims of links to far-right movements.
“You’ve wanted a frog for a long time”
The internet icon is now receiving a warm welcome from Coinbase staff as PEPE takes its place among the major players in the altcoin market. “You’ve wanted frog for a long time,” Coinbase CFO Paul Grewal acknowledged, expressing gratitude for the patience of the loyal community of the most popular on-chain frog.
The message “Now. PEPE is tradable” sparked a meme coin trading frenzy, which has now seen PEPE hit a record of over $26.6 billion in 24-hour spot trading. Demand in the derivatives markets is clearly on Pepe’s side. Crypto analysts are now comparing the price of PEPE following Coinbase’s listing to the rally sparked by Shiba Inu’s Coinbase.
While the explosive PEPE price rally has pushed it to an all-time high of $0.00002457 following the Coinbase listing news, market watchers are examining the possibility of a sharp rise for SHIB following the Coinbase listing.
SHIB recorded triple-digit growth, growing 864% in 23 days. Assuming a similar market reaction, crypto connoisseurs like BecauseBitcoin founder Max expect PEPE price to settle in the 3-0 zone.
As of publication time, PEPE is above $0.000022, down 12% from its all-time high 12 hours ago. Pepe’s massive demand, surpassing Dogecoin’s $24.7 billion in 24-hour trading volume, adds a strong argument to the altcoin’s sustainability theory.
On the flip side
- Large PEPE token holders have already started booking profits.
- a whale realization 526B at $10.03M, securing a profit of $5M.
- Another PEPE whale deposited 500B into Coinbase and is likely to sell.
Why This Matters
Pepe Token entered the top 20 cryptocurrencies by global market capitalization. Meme coins, based on internet culture, also remain the best-performing major altcoin, with annual returns of 1,725%.
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