As a seasoned researcher with over two decades of experience in the dynamic world of finance and technology, I’ve witnessed numerous market trends come and go. However, the recent meme coin listing spree by Coinbase has truly caught my attention, especially given its timing post-the November 2024 elections.
As an analyst, I’m excited to share that on December 3rd, I observed the ongoing trend of meme coin listings at Coinbase, with the addition of Mog Coin to their trading roadmap.
The U.S. cryptocurrency platform Coinbase revealed Mog Coin (MOG) as their newest planned listing, as per a tweet from their specialized assets department on X. Coinbase mentioned that MOG will be listed on Baseline, their Ethereum layer-2 scalability solution, which currently holds approximately $4 billion in user deposits or total value locked.
In just one hour following the announcement, MOG’s price soared by 23%, as indicated by data from DEXScreener. This surge in value brought the token’s market capitalization to approximately $1 billion, ranking it as the tenth-biggest meme coin based on valuation.
The Base network contract address for MOG Coin (MOG) is 0x2Da56AcB9Ea78330f947bD57C54119Debda7AF71
— Coinbase Assets 🛡️ (@CoinbaseAssets) December 3, 2024
Coinbase has been rapidly listing popular meme coins from the speculative market. In fact, within just a month, these tokens – Pepe (PEPE), Floki (FLOKI), Dogiwfhat (WIF), and Moo Deng (MOODENG) – have been made available to users on their platform.
It’s possible that the leading digital asset company could add Peanut The Squirrel meme coin (PNUT) to its platform. According to crypto.news, this cryptocurrency was showcased in the company’s Apple Pay tutorial, sparking speculation about a potential listing within the near future.
As a researcher exploring the integration of Apple Pay, I’m eager to highlight one potential implication: This move could expand the reach of cryptocurrencies, potentially funneling greater liquidity towards meme coins such as MOG and MOODENG.
It’s possible that President Donald Trump’s re-election and anticipation of less stringent crypto regulations may have played a role in Coinbase’s recent choices. Specifically, all meme coin listings since PEPE have been added after the November 6th general election, once Republicans gained control of the White House and a majority in the Senate.
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2024-12-03 19:06