Coinbase’s Bumpy Ride with Memecoin PEPE – Gamblers’ Outrage and the Road to a Healthier Crypto Community

[CryptoButthead.com , msch , May 12, 2023] Well, I’ll be! Now, y’all ain’t gonna believe this. Over yonder on Twitter, folks got their feathers all ruffled up when them memecoin PEPE fans started a hullabaloo with #DeleteCoinbase trendin’ after Coinbase, that big ol’ crypto exchange, sent out a newsletter callin’ their coin a “hate symbol.”

Paul Grewal, the high-muck-a-muck Legal Officer at Coinbase, had to step in and simmer things down Thursday afternoon. “We screwed up and we are sorry,” he tweeted out. Seems they were tryin’ to give folks a fact-based picture of this $pepe meme coin that’s been the talk of the town. But they left out some parts of the story and riled up the community.

PEPE coin, ya see, was born outta that Pepe the Frog internet meme – you know, that green critter with a cheeky grin.

Now, this PEPE coin has been hotter than a two-dollar pistol from late April to May, with a market cap nearin’ $1.6 billion, accordin’ to CoinMarketCap.

But then Coinbase had to go and stir the pot. They called PEPE a “hate symbol” in their newsletter. Said it was based on that frog meme, which started out innocent enough, but got hijacked by some unsavory folks over time.

Now, PEPE is one of the only memecoins, ‘cept for DogeCoin and Shiba Inu, to be in the top 100 cryptocurrencies by market cap, says Coinbase. But after this kerfuffle, the price of PEPE’s been fallin’ faster than a catfish off a hook.

Them PEPE fans? They’re none too pleased. Threatenin’ to up and leave Coinbase for greener pastures.

But let’s talk turkey here. These memecoins like PEPE? They’re nothin’ but fool’s gold. Casino gambler fodder. And Coinbase? They’d do well to shake off these high-rollers sooner rather than later. Might just be the best thing for the crypto community, you mark my words.