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Highlights
- Robinhood added PENGU, POPCAT, and PNUT despite a market downturn, aiming to attract crypto traders.
- All three tokens trade near their lows, with PENGU and POPCAT losing holders and PNUT down 90% from its peak.
- The listings triggered a minor rally (<20%), reflecting low meme token interest.
Robinhood has expanded its meme token offerings by adding POPCAT, PENGU, and PNUT to its trading platform. The announcement follows previous listings of meme coins such as PEPE, BONK, WIF, and SHIB. Following the news, the three newly listed tokens saw a meme coin rally, reflecting renewed interest in the sector despite market challenges.
Robinhood Sparks Meme Coin Rally with POPCAT, PENGU, and PNUT Listings
Robinhood added PENGU, POPCAT, and PNUT to its trading platform despite an overall market downturn. The brokerage service has been selective in listing new assets but has gradually expanded its meme coin selection. The inclusion of these tokens aims to attract crypto traders even as Bitcoin struggles to maintain its position above $80,000.
All three tokens were trading near their lower range before the listing. PENGU and POPCAT have seen a decline in their holder base, while PNUT has lost nearly 90% of its value since its peak in November 2024. Despite these declines, the announcement led to an immediate price reaction, pushing each token higher.
The recent meme coin rally is also due to the favorable regulation updates, with the US SEC confirming that meme coins are not classified as securities. This clarification has provided a level of confidence among traders, reinforcing their legitimacy as digital collectibles rather than regulated financial instruments.
POPCAT Price Jumps Following Robinhood Listing
Following the listing announcement, POPCAT price increased from $0.15 to $0.18, marking a renewed interest in the token. The listings triggered a minor meme coin rally, with POPCAT being the biggest gainer with a 20% surge in the immediate aftermath.
POPCAT has been a community-driven asset with periodic trading surges. However, its holder base has declined in recent months, with nearly 76% of the meme coin whale wallets reducing their positions. The recent listing could lead to a reversal in this trend if new buyers enter the market.
The token also showed a breakout from a descending triangle pattern, a signal that could indicate further gains if buying pressure continues. Analysts suggest a rally toward $0.56 if the token maintains upward momentum, though market conditions remain uncertain.
PENGU and PNUT Show Modest Gains Amid Market Slump
PENGU, linked to the Pudgy Penguins ecosystem, also experienced a price increase after the listing. However, the token has struggled to compete with newer meme coins and the growing influence of Solana-based assets. The listing on Robinhood adds to its mainstream exposure, potentially helping it regain traction.
PNUT, which gained popularity during the 2024 U.S. election season, remains the most volatile of the three newly listed tokens. The asset previously saw significant declines, losing a large portion of its market value. Despite trading near its lows at $0.16, the listing led to a 3% rally.
Robinhood’s decision to list these tokens suggests a long-term bet on the meme sector, even during a downturn. The listings could help inject fresh liquidity into the market, leading to a sustained meme coin rally.
Notably, just last month, Solana meme coin POPCAT surged 22% following its listing on Coinbase, boosting investor confidence. The listing increased market exposure and liquidity, driving renewed interest despite broader crypto market volatility.
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