Coinbase surprised the crypto world this week with an unexpected policy reversal, announcing the listing of two high-profile meme tokens: PEPE and Dogwifhat (WIF). The news, shared via Twitter by Paul Grewal, Coinbase’s listings lead, immediately triggered a trading frenzy, sending PEPE up 69% and WIF soaring over 50% in less than a day. PEPE’s surge reflects a growing appetite for meme coins, while WIF reached $4.59, approaching its March all-time high of $4.85, demonstrating the power of exchange listings to influence market sentiment.
This move represents a notable shift for Coinbase, which had historically avoided listing utility-free meme tokens since 2022, citing regulatory and risk concerns. The sudden about-face suggests a strategic pivot to capture retail attention and market share in the increasingly competitive meme coin sector. Traders responded swiftly, driving broader market excitement as other meme tokens like PNUT and POPCAT saw parallel gains, with PNUT experiencing a staggering 1000% rally following its Binance listing and high-profile social media mentions.
Analysts note that these surges are more than short-term hype. Coinbase’s endorsement signals a legitimization of meme assets in mainstream exchanges, potentially paving the way for higher liquidity, institutional interest, and new investor participation. However, the volatility remains pronounced, and the speculative nature of these tokens underscores the risk-reward dynamic that has always characterized the meme coin space.
For market observers, this development is a reminder of the influence major exchanges wield in shaping crypto trends. As Coinbase continues to expand its listing strategy, meme tokens may see a new era of rapid growth cycles, while investors and regulators alike watch closely for potential market overheating or compliance challenges. Overall, the PEPE and WIF listings highlight the evolving intersection of social media-driven hype, retail trading, and institutional platforms, pointing to a vibrant but volatile future for meme assets.
