Pepe (PEPE) is now on Robinhood US, bull market leads to relisting SOL, ADA, and XRP

Robinhood US has switched to bull market mode by relisting Solana (SOL), Cardano (ADA), and XRP. The latest addition is Pepe (PEPE), one of the most well-established meme tokens.

Riding the wave of a general crypto bull market, Robinhood announced the relisting of former blue chip stars Solana (SOL), Cardano (ADA), and XRP. Pepe (PEPE), a top meme token on Ethereum, is a new addition to the app. Robinhood confirmed the renewed availability of these assets on November 13.

GM. Solana ($SOL), Pepe ($PEPE), XRP ($XRP), and Cardano ($ADA) are now available to trade on Robinhood. https://t.co/CBj6uKDkAZ pic.twitter.com/48wXE9zs8V
— Robinhood (@RobinhoodApp) November 13, 2024

Robinhood recently enabled Dogecoin (DOGE) transactions for its European customers, catering to the increased demand for the asset. The renewed enthusiasm for crypto in fintech apps coincides with Bitcoin's (BTC) historic rally, surpassing $90,900. Altcoins, though lagging, have also made significant recoveries.

Over a year after removing these assets during the relatively inactive summer of 2023, Robinhood has relisted them. Since then, SOL has regained its position and emerged as one of the big winners in the 2024 bull market.

ADA and XRP remain somewhat unpredictable, but their liquidity makes them attractive for trading. Their low prices also appeal to mainstream buyers. However, skepticism persists about their long-term prospects due to unfulfilled technical milestones.

Despite offering a limited selection of 19 cryptocurrencies compared to direct trading or decentralized exchange (DEX) purchases, Robinhood's assets have been carefully curated during previous bull markets. The platform also offers less active tokens like Stellar.

In June 2023, Robinhood removed BNB, BUSD, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI. These tokens had gained popularity during the boom of Web3 gaming and NFTs, but some projects slowed down and lost their user base. The slow altcoin market also contributed to their delisting.

In recent years, Robinhood has embraced newer narratives, including L2 tokens like Arbitrum (ARB) and the popular meme token ShibaInu (SHIB). Robinhood's portfolio currently includes 19 crypto assets, encompassing blue chips, stablecoins, trending altcoins, and meme tokens.

Is PEPE Poised to Become a Top Meme Token?

PEPE is a seasoned crypto token that was initially listed on Binance with a risk warning. Despite this, it has demonstrated its liquidity and community support for long-term holding.

The Robinhood listing announcement coincided with Coinbase's decision to add PEPE to its roadmap. These decisions reflect the growing popularity of meme tokens and the expansion of their market capitalization.

You've long wanted the frog. Well, soon you'll get the frog. @coinbase is adding PEPE to our listing roadmap with the goal of listing later today. Thanks for your patience.
— paulgrewal.eth (@iampaulgrewal) November 13, 2024

However, the PEPE community believes that mainstream listings could dilute the token's appeal. Wider availability may attract outsiders and transform it into an actively traded asset.

PEPE has experienced fluctuations and whale cashouts, but it enjoys strong community support. Following the listing news, PEPE reached several all-time peaks, peaking at $0.000019. The token surged by over 41% post-announcement.

With a market capitalization of $7.9 billion, PEPE is one of the most widely held memes. Its community boasts over 306K wallets, significantly outnumbering other communities. Its listings on Coinbase and Robinhood will introduce PEPE to millions of users through these platforms.

If PEPE follows the trajectory of SHIB, it could initially surge by 50% and potentially experience a 10X move in the long run. Mainstream listings have shown their capacity to drive up the value of low-cost memes, and PEPE is one of the few meme tokens to be adopted by fintech app trading.

The listing has brought PEPE into the price discovery phase, raising questions about which memes might gain wider acceptance. At the same time, newly emerging memes are competing for attention, liquidity, and community building.