PEPE the Frog Meme Cryptocurrency Surges Following Major Listings on Coinbase and Robinhood

The listing on Coinbase marked a significant milestone for PEPE, a token inspired by the internet's iconic “Pepe the Frog” meme.

Coinbase announced the listing of PEPE, a meme-inspired cryptocurrency, on its trading platform. The announcement comes amid a surge of interest in meme coins, particularly PEPE, which has seen substantial trading volume and price gains following its listings on both Coinbase and Robinhood.

Coinbase's Chief Legal Officer, Paul Grewal, hinted at the anticipated listing just hours prior, sparking excitement among meme-coin enthusiasts who had long been awaiting PEPE's availability on major U.S. exchanges. In his words, “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.”

The listing on Coinbase marks a significant milestone for PEPE, a token inspired by the internet's iconic “Pepe the Frog” meme. With Coinbase and Robinhood now offering PEPE trading, the token has gained increased accessibility and visibility, drawing both retail investors and larger players to the platform.

Within hours of the announcements, PEPE's price surged by over 50%, pushing its market capitalization past $8 billion. This rise propelled it among the top-ranking cryptocurrencies by volume, briefly placing it above more established assets like Sui, an emerging blockchain network.

Coinbase's announcement was brief, simply stating, “Wen? Now. PEPE is available for trading.” The statement highlights the anticipation and excitement surrounding the listing, with many traders eagerly awaiting the availability of PEPE on major U.S. exchanges.

However, it's important to note that meme tokens are known for their volatility and can experience large, rapid price swings. Such listings often trigger a “fear of missing out” (FOMO) among investors, leading to high volatility.

On-chain data highlighted the involvement of “whales” — large crypto holders who made considerable PEPE acquisitions immediately after the listing announcement, further fueling the token's trading volume.

For instance, one significant transaction involved a whale acquiring approximately $18 million worth of PEPE across various exchanges shortly after the Coinbase listing.

While PEPE's newfound exposure has fueled short-term growth, industry analysts have cautioned investors regarding the speculative nature of meme tokens. Despite recent gains, meme coins can experience dramatic price drops, and experts emphasize the importance of caution when approaching these high-volatility assets.

However, the PEPE listing by two of the largest U.S.-based exchanges reinforces the growing mainstream acceptance of meme coins, positioning them as increasingly prominent assets within the crypto market.