Crypto Community Reacts Strongly to Coinbase’s Pepe Meme Controversy

The Email That Caused a Uproar

In a twist straight out of meme territory, an email from Coinbase has sparked a firestorm within the crypto community. The email characterized the popular Pepe meme as a “hate symbol,” a label that many in the PEPE memecoin community are vehemently disputing. The email referenced a 2016 designation by the Anti-Defamation League (ADL), which enlisted the meme amidst its catalog of online hate symbols. Who knew that a cartoon frog could hop into such heated debates?

Ruffled Feathers and Fuming Frog Fans

Prominent crypto influencer Borovik.eth didn’t hesitate to share his thoughts. On May 10, he broadcasted a screenshot of the email to his 96,000 followers, expressing outrage with a simple yet impactful question: “Why is @coinbase sending out emails telling people that $pepe is an alt-right hate symbol??” It was as if he struck a match and tossed it into a barrel of dry hay – chaos ensued.

The Backlash: #DeleteCoinbase

Within hours, hashtags flew faster than you can say “to the moon.” The hashtag “#deletecoinbase” started trending on Twitter, with over 14,000 tweets buzzing with discontent. Fans of the Pepe token declared their intentions to leave Coinbase in droves. Kenobi, a pseudonymous Twitter user and solidity developer, wasn’t shy about his feelings, tweeting enthusiastically about shifting his accounts to Gemini, alongside a colorful demand for Coinbase to retract its statement. This was not just a meme; it had become a battle cry for an entire community.

Gemini Steals the Spotlight

In what seems to be impeccable timing, the Gemini exchange jumped on the opportunity, listing the PEPE token just two days after the uproar broke out. Gemini, led by Cameron Winklevoss, described the token in far less controversial terms, giving fans something to cheer about while showing that they might need a new place to store their hilarious memecoins. Oh, how the tables have turned!

The Financial Fallout

Fueled by the Coinbase controversy, the price of the Pepe token dipped 2.6% shortly after the news broke, illustrating just how interconnected the crypto market can be. Trading at $0.00000184 at the time of publication, the currency had tumbled approximately 10.4% in the past 24 hours. It’s safe to say that the cryptocurrency world is as volatile as a toddler on a sugar high.

Conclusion: Memes vs. Reality

As the PEPE memecoin community continues to rally, the conversation has highlighted the complexities of meme culture intersecting with social movements. Is it just a meme, or has the Pepe frog taken on a darker meaning? While Coinbase stands firm, the memecoin community is hopped up on loyalty and defiance, and it doesn’t look like they will settle down anytime soon. For now, the world watches to see if Coinbase will issue an apology or risk perpetuating the meme-fueled inferno.