Coinbase’s Memecoin Frenzy Continues

Coinbase, the leading centralized exchange in the United States, has upped its memecoin game over the last month and recently listed two more tokens, TURBO and GIGA.

The announcement came less than a month after Coinbase announced spot listings for PEPE and WIF on Nov. 12, which fueled a market-wide rally across the memecoin sector.

The memecoin space has cooled down since, and Pump.Fun volumes are down 24% in the last week as a result. However, TURBO and GIGA are up 18% and 37%, respectively, over the last week, propelled by the excitement of the Coinbase listings.

Earlier this week, Coinbase also listed MOODENG and MOG, which were both under a $1 billion market capitalization, signalling Coinbase’s appetite to venture out further along the risk curve.

These new listings are significantly smaller in market capitalization than the previous listings, PEPE and WIF. TURBO is trading at a $590 million valuation, and GIGA trades at a $520 million valuation, compared to PEPE’s $9 billion and WIF’s $3.2 billion.

A trader and founder of the EPIK memecoin, Mando, took to social media to speak on the significance of each memecoin’s listing.

“Coinbase will never delist the memes it is listing now. PEPE, MOG, BONK, WIF, MOODENG, TURBO, GIGA. These are now multi-cycle memes whether you want to believe it now or not,” Mando said.