Coinbase International, the global arm of the top cryptocurrency exchange, has announced the listing of Pepe (PEPE) perpetual futures. The futures will go live on Apr. 18.
The price of PEPE is currently up more than 4%, according to CoinMarketCap data. One of the most popular meme coins is currently trading at $0.000007392 after peaking at $0.000007431 earlier today.
Perpetual futures, as the name suggests, make it possible for traders to speculate on the future moves of the meme coin without having to deal with expiration dates. This means that such futures can be held indefinitely. Such derivative products allow traders to bet on future moves of a certain asset without actually owning it.
Pepe, which was launched in April 2023, remains the fourth-biggest meme coin by market capitalization. According to CoinGecko, it is currently valued at $3.1 billion.
The cryptocurrency was inspired by the popular Pepe the Frog webcomic character. Despite its innocuous roots, the green anthropomorphic frog was later appropriated by the far-right. Cartoonist Matt Furie, who is responsible for creating this character, even took legal action against far-right extremists in order to stop them from co-opting Pepe.
Last March, Coinbase came under fire from the Pepe community after labeling Pepe as a "hate symbol" in its email newsletter. The holders of the meme coin even started the #DeleteCoinbase campaign on Twitter in order to express their dissatisfaction with the cryptocurrency exchange.
However, this minor controversy seems to be forgotten by the Pepe community, which is busy celebrating the most recent listing.
Godfrey Benjamin
Tomiwabold Olajide
Gamza Khanzadaev
