Coinbase Adds MOG Meme Coin to Its Listing Roadmap

Coinbase, one of the largest cryptocurrency exchanges in the United States, has expanded its meme coin offerings with the addition of MOG Coin to its trading roadmap, continuing its recent spree of meme coin listings. The announcement, made on December 3, 2024, via Coinbase's official assets page on X (formerly Twitter), revealed that MOG Coin will be listed on Base, the company’s Ethereum Layer-2 scaling solution.

MOG Coin's Rapid Price Surge

Following the announcement, MOG Coin saw an immediate spike in its price, surging 23% within just an hour, according to data from DEXScreener. This sharp rise propelled MOG’s market capitalization to approximately $1 billion, making it the tenth-largest meme coin by market value. The token’s inclusion on Coinbase has significantly boosted its visibility and trading volume, further solidifying its position within the meme coin sector.

Coinbase’s Meme Coin Listing Spree

Coinbase’s recent meme coin listings are part of a broader trend to cater to the growing interest in speculative digital assets. The platform has been adding popular meme tokens at a rapid pace, including Pepe Coin, Floki, DogiWifHat, and Moo Deng. This concerted push highlights Coinbase's recognition of the growing appeal of meme coins among crypto traders, despite the volatility and speculative nature of these tokens.

Notably, the exchange may also be eyeing the Peanut the Squirrel Coin (PNUT) for a potential listing. PNUT gained attention when it was featured in Coinbase’s Apple Pay tutorial, sparking speculation that it could be next in line for listing on the platform. This possible listing aligns with the broader trend of Coinbase expanding its meme coin portfolio, catering to the rising demand for these digital assets.

The Role of Base and Apple Pay Integration

The listing of MOG Coin on Base, Coinbase’s Ethereum Layer-2 scaling solution, adds to the growing ecosystem of decentralized applications built on Ethereum. With nearly $4 billion in user deposits, Base has become a prominent layer-2 solution for scalable and efficient decentralized finance (DeFi) applications. The integration of Base into Coinbase’s ecosystem allows for faster and cheaper transactions, potentially attracting more liquidity to meme coins like MOG and others.

Additionally, Coinbase’s integration with Apple Pay could further boost accessibility to crypto assets, providing users with an easy way to buy and trade meme coins directly through Apple’s payment platform. This move may draw in a wider audience, directing more liquidity toward meme coins like MOG and Moo Deng.

Political Context and Impact on Coinbase’s Strategy

Coinbase’s recent push to list meme coins follows significant political developments in the United States. With former President Donald Trump’s re-election bid and expectations of more favorable regulations for cryptocurrency, Coinbase’s strategy to list speculative assets like meme coins could be influenced by the potential for looser crypto regulations under a Republican-controlled government. This political shift, particularly after the November 6, 2024 U.S. midterm elections, may have played a role in Coinbase's decision to aggressively list meme coins, as it positions itself to benefit from an expected increase in crypto-friendly policies.

Conclusion: The Growing Influence of Meme Coins

With the addition of MOG Coin and other meme tokens to its listing roadmap, Coinbase is tapping into a growing segment of the cryptocurrency market. As the platform continues to diversify its offerings and cater to speculative traders, meme coins are likely to remain a significant part of the crypto landscape. The integration with Base and Apple Pay will further enhance the accessibility and liquidity of these tokens, potentially driving further adoption and market growth in the coming months. As political and regulatory dynamics evolve, Coinbase’s meme coin strategy could continue to evolve, with more listings and features on the horizon.