Cryptocurrency exchange Coinbase has made headlines with its recent announcement of support for Pepe perpetual futures, coinciding with a notable surge in the asset's price. The news was shared on X (formerly Twitter), signaling the introduction of futures options for the meme coin, which officially commenced today.

Following the announcement, the price of the asset surged to surpass $0.000007, marking an impressive 9% increase within a 24-hour period, as reported by CoinMarketCap. These gains extend a remarkable seven-day streak during which the meme coin witnessed a nearly 40% uptick, indicating a positive trajectory as May approaches.

PEPE, alongside other meme coins, has experienced significant growth throughout 2024, particularly during the fervor of March's meme coin mania. While newcomers like Dogwifhat (WIF) and Book of Meme (BOME) gained attention, established meme coins also saw substantial increases in value.

With April nearing its end, Coinbase's announcement of support for Pepe perpetual futures has further propelled the asset's value. The introduction of these futures options, such as the 1000PEPE-PERP market set to launch at 9:30 am UTC, signals a strategic move by Coinbase to cater to the evolving needs of traders.

Additionally, Coinbase Advanced will offer advanced market instruments, providing seasoned traders with enhanced trading capabilities. This move underscores Coinbase's commitment to diversifying its financial products and catering to a global audience in the ever-expanding digital asset sector. By offering a range of options, Coinbase aims to maintain its position at the forefront of innovation in the cryptocurrency exchange landscape.