Coinbase is facing huge criticism from the Pepe token Investor & supporters because of its latest negative statement against the Pepe token.
Pepe is a pure meme concept-based Crypto token, which was launched less than a month ago but grabbed huge popularity. This token runs on the Ethereum network as an ERC-20 token. The last month saw a surge in the popularity of meme tokens at a very big level. The crypto sector also saw an inflow of huge numbers of meme coins via Bitcoin ordinals (ORC-20).
The current trade price of this token is 3,000% high over the last 24 days of trade price.
On 10 May 2023, the Coinbase exchange sent an email letter to the Coinbase customers via newsletter and stated that the fog theme was used by alt-right groups as a hate symbol.
A crypto influencer shared a screenshot of that newsletter email with his followers.
This crypto Influencer also shared an email from the Gemini crypto exchange, where the Gemini Exchange supported the Pepe token as an independent choice for the customers to invest money.
Because of the hate statement against Pepe Token, Coinbase exchange faced huge criticism from the Pepe token community.
Binance supports Pepe token
On 5 May, the top ranked crypto exchange Binance listed the Pepe token, which further boosted the trade volume of this meme coin.
Here Binance is not a alone supporter of this token, instead, almost every top crypto platform supports this token trade.
Over the last couple of days, the majority of the crypto analysts suggested people remain away from the Pepe token trend, as the trade volume of this token plunging rapidly.