The PEPE community has shown visible unlikeliness to this email. The dominant crypto influencer Borovik.eth has shared the screenshot of the email newsletter from May 10th to his 96,000 followers. This screenshot shows the 2016 decision from the Anti-Defamation League to place the frog-themed character in its database of online hate symbols.
Pepe Meme Coin Community In Anger
The fans and community of Pepe were infuriated at the description of this memecoin. It calls for Coinbase to issue an apology and urge users to start deleting their accounts with the crypto exchange.
Kenobi, a nicknamed Twitter user and developer, declared that Pepe is not a symbol of hate and he would move the funds to the United States-based crypto exchange Gemini , completing his tweet with the hashtag #deletecoinbase.
This hashtag, #deletecoinbase, has hit the trending bar on Twitter. It received more than 14,000 tweets in the last two hours. It is still growing, according to data from Tweetbinder.
The Pepe coin is a meme-based cryptocurrency. It has always attracted attention due to its unique appeal. Its cartoon character was released by Matt Furie in 2005. It became extremely popular in 2010. Its design was influenced by green frogs. It has a humanoid body.
Basically, meme coins are a type of unique coin that takes inspiration from internet memes. They are grasping the attention of social media users and meme enthusiasts. Nowadays, they have gained massive popularity. This is the reason behind investors’ interest in them.
Memecoin No Official Association With Matt Furie
Pepe remains the symbol for internet culture. But it has no official affiliation with Matt or the original cartoon. The Pepe memecoin was launched towards the middle of April 2023. It is trading on major exchanges Huobi, MEXC, OKX, and others. It is also available on decentralized exchanges like Uniswap.
The Pepe token has a circulating supply of 420,690,000,000,000 (420 trillion) coins. From this, 93.1% have already been sent to the liquidity pool. Basically, the token is designed to ensure that it is utilized effectively while promoting its long-term stability and growth.
Coinbase has not listed the Pepe token on its exchange. Though Pepe holding members of Crypto holders have been asking the crypto exchange leaders to list the token. Binance has listed the token.
The Winklevoss-owned crypto exchange Gemini has also listed the Pepe token with a more open-ended description. This hate symbol email from Coinbase causes a fall of 2.6% within hours. Before circulating this hate email on ,Twitter the price of this token was $0.00000184. It went down by 10.4% in 24 hours.
Do not forget that meme coins are highly volatile and unpredictable. And this incident of rising hate for this memecoin will definitely affect its value in a positive or negative way. But, the coin base is too suffering from atheism on Twitter.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/05/11/coinbase-calls-pepe-a-hate-symbol-pushing-to-boycott-the-exchange/