Coinbase Listing Roadmap Backfires: Meme Coins Drop After Brief Surge - Latest cryptocurrency news

Coinbase Listing Roadmap Backfires: Meme Coins Drop After Brief Surge

The addition of a cryptocurrency to Coinbase‘s listing roadmap typically triggers swift movements in the prices of those currencies. However, this time, while investors were expecting a similar surge, the plan backfired and prices fell after a minor increase. According to the announcement made overnight, a memecoin was added to the platform’s roadmap.

The memecoin named Bonk (BONK) was announced to be included in Coinbase’s roadmap. Accompanied by this news, its price experienced a noticeable rise, but the memecoin could not withstand the market fluctuations and faced an incredible fall. While altcoins usually see an increase after Coinbase announcements, this time the opposite occurred, and the decline deepened.

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The Solana network, as the most significant riser since the beginning of the last month, has been pleasing its investors. The peak of the Solana network events with Jito (JTO) had a positive impact on the network’s native cryptocurrency SOL. The emergence of Solana network’s memecoin Bonk and its catching the attention of Coinbase seems to be more than a coincidence.

Bitcoin‘s price has made its investors quite happy with the rise it experienced over the last month. After discussions about the CME gap and expectations regarding the FED’s interest rate decision, Bitcoin has recently entered a decline, experiencing a sudden drop of 10% from its annual lows.

Bitcoin fell to $44,400 after breaking through the $44,000 level and then climbed above $42,000. However, it was unable to maintain stability in this area and retreated to $40,947 at the time of writing. The market anxiety seems to be increasing due to the interest rate decision that will be announced today. Clarity in the market is expected following the decision.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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