Pepe (PEPE) surged by nearly 16% on Tuesday after Coinbase International Exchange and Coinbase Advanced listed PEPE perpetual futures contracts. This development, coupled with the recent Bitcoin halving, could propel PEPE's rally further. Meanwhile, large-cap meme coins like Dogwifhat (WIF), Shiba Inu (SHIB), and Floki (FLOKI) posted significant weekly gains, signaling a potential resurgence of the meme coin frenzy.
Pepe Perpetual Futures Goes Live on Coinbase
Coinbase initially planned to list PEPE perpetual futures on April 18 but postponed the launch due to technical issues. After a five-day delay, the 1000PEPE-PERP market finally went live on April 23.
"Our 1000PEPE-PERP market is now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available."
— Coinbase International Exchange
Key details:
- Available to non-US residents and institutions.
- Tradable with up to 10X leverage on Coinbase Advanced.
The listing triggered a price surge reminiscent of PEPE’s March rally. Analysts attribute PEPE’s momentum to two factors:
- Coinbase’s futures listing increasing liquidity and exposure.
- Post-Bitcoin halving market dynamics, historically bullish for altcoins.
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Meme Coin Frenzy Shows Signs of Revival
Top meme coins have delivered impressive weekly returns:
| Coin | Weekly Gain |
|------------|------------|
| PEPE | 53% |
| WIF | 18% |
| SHIB | 21.5% |
| FLOKI | 41.3% |
| BONK | 54.8% |
Other notable gainers include Book of Meme (36.4%) and cats in a dog world (MEW) (31.6% in 24 hours).
Why This Matters
- Speculative liquidity is flooding back into meme coins.
- Coinbase’s upcoming WIF futures listing (April 25) could amplify momentum.
- Historical trends suggest meme coins thrive in post-halving bullish cycles.
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FAQs
1. What are perpetual futures?
Perpetual futures are derivatives contracts without expiration, allowing traders to speculate on asset prices indefinitely.
2. Why is PEPE rallying?
The Coinbase listing and Bitcoin halving effect are driving demand. PEPE’s 53% weekly gain reflects heightened trader interest.
3. Which meme coins are gaining traction?
Aside from PEPE, WIF, SHIB, and FLOKI are leading the charge with double-digit weekly gains.
4. Is the meme coin frenzy sustainable?
While volatile, historical patterns and institutional interest (e.g., Coinbase listings) suggest potential for extended rallies.
5. Can US residents trade PEPE futures?
No. Coinbase’s PEPE perpetual futures are restricted to non-US users.
6. What’s next for meme coins?
Watch for WIF’s futures launch and broader market sentiment post-Bitcoin halving.
Disclaimer: Trading cryptocurrencies involves risk. Conduct your own research before investing.