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Coinbase Lists $DEGEN Token; Market Cap Soars After Jesse Pollak's Announcement
Oct 1, 2024, 07:53 PM
Coinbase has announced the listing of the $DEGEN token on its platform, leading to a significant surge in its market capitalization. The token's market cap has doubled, soaring by 70% to reach $128 million, despite being down 99% from its peak. The listing was announced by Jesse Pollak, a Coinbase executive, marking his first day in the role. $DEGEN was added to Coinbase's roadmap, reflecting growing interest in memecoins on the Base layer. Previously, $DEGEN has been associated with tipping on Farcaster, Degen.eth subdomains, and was the first chapter of Drakula, recording $40 million in trading volume. The addition of $DEGEN to Coinbase is expected to revive interest in memecoins, with industry observers anticipating a new season of activity.
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