"POPCAT, PENGU Soar on Coinbase Listing"

POPCAT and PENGU See Double-Digit Gains After Coinbase Listing

Coinbase, the third-largest centralized exchange by trading volume, has announced the listing of Popcat (SOL) (POPCAT) and Pudgy Penguins (PENGU) on the Solana (SOL) network. This development has fueled a sharp price rally for both meme coins, with gains exceeding double digits.

According to Coinbase’s announcement, trading for POPCAT and PENGU will commence on or after 9 AM PT on February 13. The exchange will roll out spot trading in phases for the POPCAT-USD and PENGU-USD pairs. Before spot trading goes live, perpetual futures trading for these tokens will be available on Coinbase International Exchange and Coinbase Advanced. The exchange will launch the PENGU-PERP and POPCAT-PERP markets on or after 9:30 AM UTC on the same day.

This expansion follows the recent addition of these assets to Coinbase’s roadmap alongside Morpho (MORPHO), which has yet to receive a confirmed listing. While the roadmap inclusion led to brief price upticks, the official listing announcement triggered a more prominent rally.

Among the two tokens, POPCAT led the gains, surging over 25%. This was notable, as the meme coin had been on a downward trend since November. However, it has been experiencing a slight recovery over the last week, rising by more than 46%. At press time, it traded at $0.33.

PENGU also recorded strong gains. Its value increased by more than 12% over the past day, particularly significant given that the token had hit an all-time low just last week. With this price surge, the token is now trading approximately 18% higher than its lowest point. However, its weekly losses still stand at 7.8%. At press time, its trading price stood at $0.01.

The sharp price increase aligns with what is known as the “Coinbase Effect.” To provide some context, the Coinbase Effect refers to a phenomenon where tokens often experience substantial price surges after being listed on the exchange, driven by increased visibility, liquidity, and investor interest.

Nevertheless, it remains to be seen whether the