PEPE Rallies After Coinbase and Robinhood Listings

Sentiment Status: Positive

Meme coins often face criticism for being speculative, yet their popularity shows resilience; PEPE’s listing expands its user base, boosting liquidity and market interest.

On november Coinbase officially listed the PEPE token on its platform. The announcement follows Robinhood’s decision earlier in the day to also list the frog-themed crypto, causing an explosive price surge.

Coinbase’s Chief Legal Officer Paul Grewal shared the announcement on X, stating, “You’ve long wanted the frog. Well, soon you’ll get the frog.” This statement followed Robinhood’s earlier announcement that it had listed PEPE, along with the relisting of Solana (SOL), Cardano (ADA), and Ripple (XRP). 

These announcements boosted PEPE’s performance. In the last seven days, the token has surged by over 105%. Analysts speculate that PEPE could soon challenge Shiba Inu (SHIB) for the second spot among meme coins by market capitalization.

As of November 15, 2024, PEPE is trading at $0.00002187, reflecting a 51.31% increase over the past 24 hours. The token’s market capitalization has reached approximately $9.20 billion, placing it among the top ten cryptocurrencies by market cap. Additionally, PEPE’s 24-hour trading volume stands at $11.50 billion, indicating strong interest from traders.

Historically, memecoins have been criticized for their speculative nature, but their popularity demonstrates their staying power in the market. With this listing, PEPE gains access to a vast user base, further driving liquidity and market interest.

Robinhood’s relisting of SOL, ADA, and XRP suggests a shift in sentiment, possibly influenced by expectations of a more crypto-friendly U.S. regulatory environment under the current administration.

As the largest cryptocurrency exchange in the United States, Coinbase’s decision lends credibility to the meme coin, paving the way for further institutional and retail adoption.

PEPE is well-positioned for continued growth. However, for the token to overtake SHIB as the second-largest meme coin, it would need to surpass a market valuation of $15 billion; The coming weeks will be crucial in determining whether PEPE can sustain its momentum or if the current rally is a temporary surge.