Coinbase apologizes after calling memecoin PEPE a "hate symbol" in newsletter
Coinbase faced backlash on Twitter after referring to memecoin PEPE as a "hate symbol" in a newsletter. The hashtag #DeleteCoinbase trended as fans of PEPE threatened to move to other crypto exchanges. However, Coinbase's Chief Legal Officer, Paul Grewal, apologized for the oversight and acknowledged that the newsletter did not provide the full history of the meme. While PEPE's value had previously surged to a market cap of $1.6 billion, its price has since dropped significantly. The Anti-Defamation League has noted that while the original Pepe meme did not have racist connotations, the use of bigoted versions of the meme has increased over time.
PEPE Desperately Searches for Support After Bubble Burst
PEPE, a meme coin, experienced a rally that ended when it reached a market capitalization of $1 billion. Since then, the price has dropped by 70% and is currently seeking support at $0.0000011. The current resistance level is at $0.0000020. Recent trading volume and price have both been in the red, and the daily RSI and MACD indicate a bearish trend. If the key support level is reached, it will be important to see if buyers become interested and if the price can bounce back to test the resistance level.
Coinbase Customer Email Sparks Outrage Over Pepe's Alleged Hate Symbolism
Coinbase has faced backlash from Pepe fans after sending an email claiming that the meme coin represents hate ideology. The email explained Pepe's origins and stated that the character was "co-opted as a hate symbol by alt-right groups, according to the Anti-Defamation League" (ADL). Pepe's rise in popularity saw it climb the meme coin rankings into the third spot by market cap, but the email from Coinbase has triggered an uprising from Pepe fans who are trending the hashtag #DELETECOINBASE. The issue has become contentious due to Pepe's association with the alt-right white supremacy movement.
Shiba Inu Token BONE Dominates Exchange Poll for Next Crypto Listing in India, Leaving PEPE and FLOKI Behind
Bone ShibaSwap, the governance token of the Shiba Inu ecosystem, is leading a poll on the Indian cryptocurrency trading platform Unocoin for the next asset to be listed. With 84.7% of the total votes, it is expected that BONE will soon be added to Unocoin's platform, making it the fourth Indian cryptocurrency exchange to support the token. Giottus, India's top-rated exchange, has already added BONE with the BONE/INR trading pair and introduced an exclusive giveaway contest for the token. The Shiba Inu community is also urging leading cryptocurrency exchanges such as Binance and KuCoin to list BONE.
PEPE vs DOGE: The Battle for Memecoin Supremacy
The rise of memecoins, or cryptocurrencies inspired by internet memes, has become a trend in online communities. One of the most popular memecoins is PEPE, a frog-themed token that aims to surpass dog-inspired meme coins like Dogecoin. While PEPE gained popularity quickly and reached a $1 billion market capitalization in just three weeks, its marketcap quickly plummeted to $725 million on May 9.
Pepe the Frog Meme Creator Unaware of PEPE Coin, Prefers DOGE
The creator of the Pepe the Frog meme, Matt Furie, has revealed that he was not aware of the existence of the Pepe (PEPE) cryptocurrency despite its recent surge in popularity. During a Twitter Space discussion about his new non-fungible token (NFT) art collection called Zogs, Furie admitted that he was a Dogecoin (DOGE) maximalist and had only heard of Ethereum (ETH) and Bitcoin (BTC) before. It remains unclear whether Furie will seek compensation from the team behind Pepecoin for the use of his meme. Meanwhile, PEPE has experienced a meteoric rise in value, with its onchain metrics showing impressive growth.
Pepe Memecoin Market Cap Falls $1.1B From Peak, but Still Being Bought by Crypto Whales
The market capitalization of Pepe (PEPE), a new memecoin, has dropped by $1.1 billion from its peak on May 6. Despite this, on-chain data shows that some crypto whales are still buying the token. Over the past five days, the price of Pepe has fallen by more than 56%, from a peak of $0.00000431 to $0.00000193, according to CoinGecko. The decline in Pepe's price has been attributed to traders selling large chunks of their holdings to new retail investors following the token's listing on Binance, the world's largest crypto exchange.
Validators Earned $46M in First Week of May Due to Increased Staking Rewards and High Gas Fees on Ethereum Network
Validators on the Ethereum network earned a total income of $46 million in the first week of May due to an increase in the staking rewards rate. This resulted in validators earning 24,997 Ether (ETH) in the week, a 40% increase from the previous week's income of $33 million. The recent surge in gas fees due to the popularity of a new memecoin called Pepe has also contributed to higher fee income for validators from processing transactions. Validators on Ethereum are required to stake a minimum of 32 ETH, valued at roughly $58,000, in order to engage in the network's consensus procedure. Since Ethereum's network moved to a proof-of-stake (PoS) consensus mechanism with The Merge last year, ETH staking has gained significant importance among institutions.
Gemini Adds Support for PEPE Meme Coin, Following Binance and Other Exchanges
Gemini, a leading cryptocurrency exchange, has added the PEPE meme coin to its list of tradable assets. This move follows similar listings on other exchanges such as Binance, OKX, and Huobi. The price of PEPE has seen a remarkable surge of over 800% to $0.0000040, with a market capitalization of more than $1.5 billion. Gemini will first offer trading for the USD trading pair on its API/FIX and ActiveTrader applications, with trading expected to be available soon on its mobile app and website for various currency pairs. However, popular crypto analyst Michael van de Poppe predicts a possible dip in PEPE's price before a significant relief rally.
Whale Transfers $14.5M of PEPE to Binance and Buys TURBO
A whale recently transferred $14.5 million worth of PEPE to Binance and is now investing in TURBO, according to Lookonchain data. PEPE coin has seen a significant increase in value, with its market capitalization reaching over $1 billion. The whale's actions are being closely monitored by traders, with some speculating that TURBO may be the next big thing. The Turbo meme coin is created using artificial intelligence, and its success remains to be seen.
