Coinbase will add support for Pepe (PEPE) on the Ethereum network (ERC-20 token), marking a milestone for the popular memecoin.
The listing, confirmed on November 13, 2024, comes with a cautionary note from Coinbase advising users not to send PEPE over other networks, as this could result in lost funds.
Trading is scheduled to begin on or after 11:30 AM ET, contingent on sufficient liquidity. The rollout will start with the PEPE-USD trading pair in phases, expanding the token’s availability to a wider audience on one of the largest crypto exchanges.
The announcement triggered an immediate spike in PEPE’s price, with the token climbing over 49% shortly after the news broke. At this writing, the PEPE coin’s price has risen to $0.0000188.
The listing on Coinbase is a significant development for PEPE, as it moves from smaller exchanges to a globally recognized platform, potentially attracting both retail and institutional investors.
However, Coinbase noted that support for PEPE might be restricted in certain jurisdictions due to regulatory constraints, underscoring the importance of the ERC-20 network restriction.
Pepe Coin’s newfound visibility on Coinbase has generated a surge in trading activity, with its 24-hour volume jumping by 28% to $8.75 billion. The listing not only increases liquidity but also lends PEPE a level of legitimacy, with analysts now watching closely to see if it can sustain this momentum amid market volatility.
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