Coinbase Lists Memecoins: Prices Surge on Rumors

December 16, 2024 6 min
Daniel Bennett Twitter
Daniel Bennett
2Shares
204Reads
Coinbase Lists Memecoins: Prices Surge on Rumors
Table of contents
  • Coinbase CEO Brian Armstrong See Trump’s Win as the Dawn of a New Crypto Era
  • Coinbase’s Meme Coin Interest Reignition
    • Memecoin MOODENG Surges 67% After Coinbase Listing
    • Ethereum Meme Coin MOG Nears All-Time High
    • GIGA and TURBO Soar After Coinbase Roadmap Update
    • Coinbase App Loses Top Positions in App Store
    • Is This a New Meta for Coinbase?
  • Conclusion: Coinbase’s Memecoin Bet
Table of contents
  • Coinbase CEO Brian Armstrong See Trump’s Win as the Dawn of a New Crypto Era
  • Coinbase’s Meme Coin Interest Reignition
    • Memecoin MOODENG Surges 67% After Coinbase Listing
    • Ethereum Meme Coin MOG Nears All-Time High
    • GIGA and TURBO Soar After Coinbase Roadmap Update
    • Coinbase App Loses Top Positions in App Store
    • Is This a New Meta for Coinbase?
  • Conclusion: Coinbase’s Memecoin Bet
Share this blog post

In a bold move to capture the zeitgeist of the crypto market, Coinbase has begun listing an increasing number of memecoins, sparking wild price surges and debates about the platform's future strategy. With its Base network reporting record NetFlow and traders flocking to decentralized options like Phantom, Coinbase's approach to memecoins could redefine its role in the crypto ecosystem. Here's how Coinbase's memecoin strategy is unfolding.

Since Base Layer-2 trading volumes on DEXs steadily grow it’s important to navigate the dynamic landscape of Base meme coins. Coinlaunch presents an opportunity to stay ahead of the curve with an updated List of Top 50 Base Meme Coins Ranked by Market Cap.

Coinbase CEO Brian Armstrong See Trump’s Win as the Dawn of a New Crypto Era

Cryptocurrency assets have skyrocketed in the week following Donald Trump’s re-election, with the industry rallying around what Coinbase CEO Brian Armstrong has dubbed the “dawn of a new crypto era.” Reports from nonprofit watchdogs Public Citizen and OpenSecrets reveal that the crypto sector poured hundreds of millions of dollars into campaign donations and election advertising, solidifying its political influence during the 2024 election cycle. This strategic push underscores the growing alignment between the industry and policymakers who promise regulatory clarity and support. Bitcoin has led the charge, surging over 25% since election day and hitting record highs, signaling renewed investor confidence in the sector’s future under a more favorable administration.

Coinbase’s Meme Coin Interest Reignition

The memecoin revolution is making waves, and Coinbase is positioning itself to ride the tide. Amid an anticipated shift in the U.S. regulatory landscape under the Trump administration, the exchange doubles down on plans to expand its token offerings, including previously off-limits meme coins. This strategy aligns with Coinbase’s broader goal of diversifying its revenue streams and reducing dependence on trading income, which has historically been vulnerable to market volatility.

In an interview with Bloomberg, Tom Duff Gordon, Coinbase’s Vice President of International Policy, revealed that regulatory clarity is key to unlocking new opportunities. “We’re talking more about some of the smaller tokens, some of the meme coin tokens,” Gordon noted, highlighting the platform’s readiness to list tokens previously restricted under U.S. regulations. This comes in light of ongoing legal battles with the Securities and Exchange Commission, which has accused Coinbase of operating an unregistered securities exchange and offering trading services for assets the SEC classifies as securities, such as SOL, ADA, and Polygon.

The current administration's stance has been largely adversarial toward the crypto sector, leading to lawsuits and significant financial penalties for major industry players, including Coinbase. However, Trump’s campaign promises to end hostility toward crypto have instilled optimism. His proposed supportive environment for blockchain and cryptocurrency businesses could ease tensions with regulators, opening doors for Coinbase to expand its services and token listings domestically.

In the meantime, Coinbase has been proactive in adapting to the regulatory landscape. The company has expanded its operations internationally, entering 38 new markets in 2023, including Singapore and Spain. It also launched a derivatives exchange in Bermuda to capture market share in a lucrative segment outside the U.S. Despite these efforts, Gordon emphasized the continued importance of the U.S. market, which houses most of Coinbase’s user base and staff.

Coinbase’s shift in strategy includes listing meme coins that have historically been overlooked by the platform. While the exchange once limited its offerings to top-tier tokens like Dogecoin, it has recently embraced others like Pepe, Floki Inu, and Dogwifhat. These listings have demonstrated the power of meme coin mania, with tokens like PEPE experiencing significant price surges, rising over 50% following its addition to the platform.

As Coinbase navigates these changes, it’s clear that the memecoin craze is more than a passing trend. By expanding its token listings and diversifying revenue streams, the exchange is adapting to market demands solidifying its role as a key player in the evolving crypto landscape.

Memecoin MOODENG Surges 67% After Coinbase Listing

The memecoin MOODENG has seen a dramatic 67% price surge following its debut on Coinbase, one of the largest cryptocurrency exchanges in the world. The listing underscores Coinbase’s ongoing strategy to expand its token offerings, including popular memecoins, as part of its revenue diversification efforts. MOODENG’s addition to the platform was announced on Coinbase’s official X account, sparking immediate interest from traders and driving significant trading volumes. This move reflects the growing market demand for memecoins and Coinbase’s intention to cater to this thriving niche amid regulatory uncertainties and evolving industry dynamics.

Ethereum Meme Coin MOG Nears All-Time High

Ethereum-based memecoin MOG is edging closer to its all-time high following its recent listing on Coinbase. The announcement, shared via Coinbase's official X account, has spurred renewed interest in the token, driving its price upward and significantly increasing trading activity. MOG’s rise highlights the strong market demand for Ethereum-based meme projects and Coinbase’s continued efforts to broaden its token offerings. As traders anticipate a full listing on the exchange, MOG’s momentum signals its growing presence in the competitive memecoin landscape.

GIGA and TURBO Soar After Coinbase Roadmap Update

Gigachad (GIGA) and Turbo (TURBO) have seen remarkable price surges following their addition to Coinbase’s roadmap for potential future listings. The announcement, shared via Coinbase's official X account, has injected fresh excitement into both projects, with trading volumes soaring as investors anticipate their eventual listing. GIGA and TURBO’s inclusion underscores Coinbase's growing focus on engaging with community-driven and niche token projects, further bolstering their profiles in the ever-competitive crypto market.

Coinbase App Loses Top Positions in App Store

As memecoins gain traction, Coinbase's app has lagged behind decentralized wallets like Phantom in the Apple App Store rankings. This shift signals an on-chain migration driven by traders chasing high-risk, high-reward opportunities unavailable on centralized exchanges. Phantom's success highlights the growing demand for decentralized options, even among retail traders new to crypto.

TikTok-fueled memecoin campaigns have further propelled this trend, showing how social media and decentralized platforms reshape crypto trading dynamics.

Is This a New Meta for Coinbase?

Coinbase’s pivot toward memecoins could signify a shift in strategy to stay ahead of market trends. However, questions linger about whether these listings represent the peak of memecoin value or if Coinbase can maintain its influence as the memecoin market evolves.

With its Base network driving record inflows and outpacing Solana by a significant margin, Coinbase actively supports on-chain trading activity. Yet, its centralized app faces challenges as traders embrace decentralized options.

Conclusion: Coinbase’s Memecoin Bet

Coinbase's embrace of memecoins reflects its effort to capture the growing demand for high-risk, high-reward assets. While this strategy has energized the memecoin market, it also highlights the platform’s struggle to keep pace with on-chain trends. As the crypto landscape evolves, Coinbase's ability to adapt will determine its relevance in the memecoin era and beyond.

0 Comments
No comments yet