A popular frog-themed meme item that has risen 94% in the past week is seeing another step forward after receiving support from top US exchange platform Coinbase.
In a new announcement, Coinbase say that investors can now buy, sell, trade, store and convert the popular memecoin Pepe (PEPE).
“Pepe is live now [coinbase.com] in the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”
News of the listing sent PEPE’s price flying from a November 14 low of $0.00001909 to a high of $0.00002222 the next day, a gain of 16%. The price increase continues a trend that saw PEPE skyrocket in price after the presidential election earlier this month.
The day before the election, Pepe was valued at just $0.00000849. However, the meme asset rose to a peak of $0.00002438 on November 13, a staggering 94% gain. PEPE has since stabilized and at the time of writing is trading at $0.00002147, down 6% over the last 24 hours.
Earlier this week, retail trading giant Robinhood announced it would be adding more altcoins – including PEPE – to its growing line of tokens. Other crypto assets added include Cardano (ADA) and XRP.
As Johann Kerbrat, then vice president and general manager of Robinhood Crypto, stated:
“We have consistently heard from our customers that they want access to more digital assets, and we are excited to continue expanding our crypto offering. With lower barriers to entry, we believe crypto offers an opportunity for those historically left behind by the traditional financial system.”
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Generated image: Midjourney