PEPE price soars 49 percent as Coinbase and Robinhood announce listing
Following the announcement by Coinbase, the largest cryptocurrency exchange in the United States, and Robinhood Crypto that it would list the meme-based digital asset on its platform, Pepe Coin (PEPE) experienced a 49% increase.
It is anticipated that PEPE's accessibility and market visibility will rise as a result of its dual listings on significant US trading platforms. As a result of the announcements, the token's price has already moved significantly. According to cryptocurrency analyst CryptoZeus, the price of PEPE was "monstrously bullish," predicting the frog-themed meme coin would soar to the moon in "The Most Exciting Bull Run Of All Time."
PEPE price increases after Robinhood Crypto announces token listing
After Robinhood Crypto announced that it would list the memecoin for spot trading, the price of Pepe has increased by more than 30% in the last hour. According to Robinhood Crypto, Pepe transfers are now operational, enabling users to deposit and withdraw the cryptocurrency.
In addition to the frog-faced memecoin's initial listing, the online platform recently relisted Solana, Cardano, and XRP. In 2023, the exchange had already stopped supporting Solana, Cardano, and XRP in response to lawsuits brought by the U.S. Securities and Exchange Commission against companies such as Coinbase for allegedly selling unregistered securities. In order to guarantee compliance, the platform responded by initiating a delisting procedure.
PEPE price surges almost 50% as Coinbase plans to list memecoin
In other news, Coinbase has added PEPE to its roadmap for coin listings, and later today, the memecoin will officially be listed. The PEPE price has jumped amid the announcement from Coinbase.
You've long wanted the frog. Well, soon you'll get the frog. @coinbase is adding PEPE to our listing roadmap with the goal of listing later today. Thanks for your patience.
— paulgrewal.eth (@iampaulgrewal) November 13, 2024
Coinbase Chief Legal Officer Paul Grewal posted on X "You've long wanted the frog. Well, soon you'll get the frog. Coinbase is adding PEPE to our listing roadmap with the goal of listing later today. Thanks for your patience."
Pepe coin price rally is being driven by whales
Increased activity from large investors, sometimes referred to as "whales," can indicate a strong belief in the potential of a cryptocurrency asset, which could raise demand and increase price volatility. The PEPE large transaction count increased from 100 to over 1,020 in a single week, according to data from IntoTheBlock. The inflow of large holders has since increased by 104% over the last seven days and by 195% over the last month.
According to Coingecko data, this popular meme coin is driving over $7.23 billion in daily trading volume across multiple exchanges and three chains (BSC, Ethereum, and Arbitrum One), demonstrating a spike in trader interest and activity. Such volume levels were last experienced during the crash on August 5.
As of the time of publication, Pepe's coin price is $0.00001912, up 49.37% in the last day and 62% in the last week, according to data from CoinMarketCap.
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