DOOKV: Coinbase to launch perpetual futures for PEPE

Previously, Coinbase had reservations about listing PEPE, citing its association with controversial hate symbols. However, the decision to list PEPE futures indicates a shift, likely influenced by market demand and the meme coin trend.

PEPE is the fourth largest meme coin by market capitalization, valued at $3 billion. The market’s enthusiasm for meme coins and PEPE’s prominence as a leading Ethereum (ETH) token likely influenced Coinbase’s decision to explore futures trading for PEPE.

PEPE’s value surged 350% in a week at the beginning of March, making it the third-largest meme coin by market capitalization with a 600% monthly increase. The meme coin’s current momentum, marked by significant withdrawals and investments, underscores a widespread “Extreme Greed” sentiment among its investors.