A popular frog-themed meme asset that has surged 94% during the last week is seeing another leg up after gaining support from top US-based crypto exchange platform Coinbase.
In a new announcement, Coinbase says that investors can now buy, sell, trade, store and convert the popular memecoin Pepe (PEPE).
“Pepe is now live on [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 its November 14th low of $0.00001909 to a peak of $0.00002222 the following day, a gain of 16%. The rise in price continues a trend that has seen 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 rallied to a peak of $0.00002438 on November 13th, a staggering gain of 94%. PEPE has since stabilized and is trading for $0.00002147 at time of writing, a 6% dip during the last 24 hours.
Earlier this week, retail trading giant Robinhood announced that it would be adding more altcoins – including PEPE – to its growing suite of tokens. Other crypto assets added include Cardano (ADA) and XRP.
As stated by Johann Kerbrat, vice president and general manager of Robinhood Crypto, at the time,
“We’ve consistently heard from our customers that they want access to more digital assets, and we’re excited to continue expanding our crypto offering. With lower barriers to entry, we believe crypto presents an opportunity for those who have been historically left behind by the traditional financial system.”
