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Coinbase Flags Growth of PepeCoin and Bitcoin-Based Meme Coins in Latest Newsletter

Coinbase's latest newsletter highlighted the surge in popularity of meme coins, particularly pepecoin (PEPE) and Bitcoin-based meme coins, among traders seeking profits in the crypto market. The rise of meme coins has resulted in high gas fees on the Ethereum blockchain.

PEPE has seen a remarkable growth of nearly 55,000% since its issuance in mid-April, reaching a market capitalization of $1.8 billion in just under three weeks. However, the newsletter received backlash from some members of the Crypto Twitter community for pointing out the association of the original Pepe the Frog meme with hate groups.

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