Robinhood Expands Into Meme Coins by Listing POPCAT, PENGU, and PNUT

The move is part of Robinhood's broader expansion into cryptocurrency trading as it competes with exchanges like Coinbase and Binance.US.

Crypto exchange Robinhood (HOOD) has added three meme coins to its offerings in a move that could broaden the platform’s appeal and attract new users.

Here are three meme coins that are now available for trading on Robinhood:

* POPCAT (CRYPTO: POP)

* PENGU (CRYPTO: PENGU)

* PNUT (CRYPTO: PNUT)

The move is part of Robinhood’s broader expansion into cryptocurrency trading as it competes with exchanges like Coinbase (NASDAQ:COIN) and Binance.US.

Since President Donald Trump’s election victory in November, U.S. crypto exchanges have accelerated meme coin listings. Trump has positioned himself as pro-crypto, vowing to make the U.S. the “world’s crypto capital.”

In February, the SEC ruled that most meme coins do not qualify as securities, reversing its previous stance under the Biden administration. That same month, the agency dropped an enforcement action against Robinhood related to crypto trading violations.

Despite the listings, all three tokens are trading near their lower ranges. POPCAT has lost 76% of its whale wallets over the past three months, with remaining holders consolidating in hopes of a new meme cycle. PENGU has seen a 30% drop in holders and has struggled to compete with other trending meme coins. PNUT, which gained attention during the U.S. elections, has lost over 90% of its peak value, making it the riskiest of the three.

Chart: Benzinga Pro

Earlier this year, Robinhood has been selective in its crypto listings. While it was late to add Dogecoin (CRYPTO: DOGE), it has since listed PEPE (CRYPTO: PEPE), BONK (CRYPTO: BONK), WIF (CRYPTO: WIF), and SHIB (CRYPTO: SHIB), which are considered more liquid assets. The last major listing before this was Arbitrum (CRYPTO: ARB) on March 5.

The market reaction to the meme coin listings has been limited, with all three tokens seeing gains of less than 20%, an unusually small increase for meme coins. Overall interest in altcoins remains low, with Bitcoin (CRYPTO: BTC) struggling to hold above $80,000.

Robinhood’s move could help revive interest in the sector, but it remains unclear whether it signals a broader market recovery or simply an effort to expand its offerings amid sluggish trading activity.