PEPE Coin Soars 50% After Coinbase and Robinhood Listings, Market Cap Tops $8B

The price of PEPE coin has soared over 50% after the announcement made by Coinbase stating that it would be listing the meme-inspired token.

After Coinbase announced that it would be listing the meme-inspired PEPE coin, its price soared by over 50%. This significant move by the large U.S. cryptocurrency exchange was followed by a similar announcement from Robinhood, which sparked widespread interest in the digital asset. As a result of these announcements, PEPE's market capitalization has now surged past $8 billion, making it one of the most valuable meme coins in circulation.

Unlike Ethereum and Bitcoin, which offer distinct utilities such as blockchain development platforms or decentralized finance (DeFi), PEPE belongs to the meme coin category, which is similar to Shiba Inu and Dogecoin. These meme tokens are primarily driven by speculative trading, community engagement, and cultural relevance.

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With the crypto world now encompassing tens of thousands of tokens and various categories for them, one is rapidly gaining popularity as a community-driven project inspired by the internet meme “Pepe the Frog”. The milestone listing achieved by the PEPE coin is causing many crypto traders to take notice. Propelled by speculative trading activity and a passionate community, PEPE has become a serious contender in the crypto world despite its origins as a humorous token.

Coinbase’s Chief Legal Officer, Paul Grewal, shared the listing news on X (formerly Twitter) in a fun and quirky way that aligns with the lightheartedness of meme culture, and the market quickly responded to the announcement.

An hour later, Robinhood also announced its plans to support PEPE trading. Surpassing its peak of $0.000016 in May, both of these announcements boosted PEPE’s price to an all-time high of $0.000019.

Within 24 hours, trading volume for the token reached $12 billion, ranking it among the top 6 cryptocurrencies by activity. As PEPE gains greater visibility and accessibility in the U.S. market through these listings, investors are urged to approach meme coins with caution, as their value is largely influenced by community sentiment and market trends rather than utility.

Prominent crypto-centric industries, such as crypto gaming and PEPE's meteoric rise, showcase the evolving nature of the cryptocurrency world. While meme coins embody the excitement of viral trends being realized as actual value, crypto gaming and other innovative applications demonstrate how blockchain technology is redefining industries.

As for PEPE gaining visibility on major trading platforms, the future of this meme-inspired coin will depend on regulatory developments, market dynamics, and sustained community engagement. PEPE's explosive growth, however, reflects the unpredictable and ever-evolving nature of cryptocurrencies and the market as a whole.