DEGEN Token Skyrockets After Coinbase Listing Announcement

Market Cap Surpasses $160 Million

A surge in market cap exceeding $160 million has been witnessed by DEGEN since Coinbase revealed its inclusion in the listing roadmap.

DEGEN Price and Trading Volume Soar

DEGEN, a memecoin on Coinbase’s L2 network Base, has experienced a remarkable price increase of 127% within 24 hours, reaching $0.009 from $0.004. Concurrently, trading volume surged from $8.5 million to $136.8 million.

Coinbase’s Listing Roadmap Adds DEGEN

Coinbase publicly disclosed the addition of DEGEN to its listing roadmap, prompting a significant boost in price. Additionally, Jesse Pollak’s appointment to Coinbase’s executive team further fueled the token’s momentum.

Strategic Moves Boost Coinbase’s Revenue

DEGEN’s inclusion aligns with Coinbase’s strategic move to increase on-chain activity, ultimately enhancing the platform’s revenue through transaction fees.

DEGEN’s Impact on Base Ecosystem

DEGEN marks the fourth native token on Base with support for spot trading on Coinbase, joining other established tokens like WELL, AERO, and SEAM.

Community Excitement and Market Performance

The DEGEN community, especially users on decentralized network Farcaster, have expressed euphoria over the token’s recent performance. Despite recent dips, DEGEN’s market cap currently stands above $160 million.

DEGEN Utility and Community Engagement

DEGEN’s role as a gas payment token for Degen Chain and its community participation through airdrops and tipping mechanisms demonstrate its utility and community engagement.