Cryptocurrency exchange Coinbase has made a significant announcement regarding its support for Pepe perpetual futures, leading to a surge in the asset’s price. The news was shared on X (formerly Twitter), where Coinbase unveiled the introduction of meme coin futures options starting today. Following this announcement, the price of Pepe rallied to surpass $0.000007, marking a nearly 9% increase in just 24 hours, as reported by CoinMarketCap.
This surge in price is part of a larger trend for Pepe, which has seen impressive gains over the past seven days, with an overall increase of almost 40%. As April comes to a close, the meme coin appears poised to continue its upward trajectory into May. The launch of $PEPE perpetual futures by Coinbase has further fueled this positive momentum.
Throughout 2024, meme coins have been experiencing a period of growth and popularity. March was particularly notable for meme coins, with both newcomers and established assets seeing significant increases in value. Now, as April nears its end, Pepe is gaining even more traction with the introduction of perpetual futures on Coinbase.
The exchange announced the arrival of the 1000PEPE-PERP market at 9:30 am UTC, with Coinbase Advanced also offering advanced market instruments for seasoned traders. This move is seen as crucial for Coinbase’s expansion and diversification in financial products, as it continues to cater to the evolving demands of the global digital asset sector.
Overall, the introduction of Pepe perpetual futures on Coinbase signifies the exchange’s commitment to providing a diverse range of options for traders and investors. With meme coins like Pepe gaining increased attention and value, Coinbase’s support for these assets is a strategic move to stay ahead in the ever-changing cryptocurrency market.