Memecoin soars after inclusion in Coinbase roadmap

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analista-memecoin

The memecoin Degen (DEGEN), built on the Ethereum (ETH) layer 2 scalability solution called Base, has seen a significant appreciation of more than 60% in the last week. The increase followed the announcement that Coinbase included DEGEN in its listing roadmap. This is a preliminary step so that the asset can later go to the platform of the largest cryptocurrency exchange in the USA.

DEGEN is currently trading at $0.0084, up 23.5% in the last 24 hours, according to data from CoinGecko.

Degen memecoin price chart over the last 24 hours. Source: CoinGecko
Degen memecoin price chart in the last 24 hours – Source: CoinGecko

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Memecoin Degen stands out in bearish scenario

Launched in January 2023, memecoin acts as a reward token within Farcaster, a blockchain protocol aimed at building decentralized social networks. The main goal of the project is to enable users of the Farcaster ecosystem to reward quality content creators, fostering a connection between online contributions and real-world value.

In addition to DEGEN, Coinbase also added the altcoin io.net (IO), based on the Solana (SOL) blockchain, to its list of potential new assets. Inclusion in the roadmap means the token is on track to go to trading on the platform. However, there is still no confirmed date for the final listing.

The io.net project has a different focus than DEGEN. It is a decentralized computing network focused on artificial intelligence. The project aims to offer machine learning engineers access to distributed cloud computing clusters at lower costs. The project's purpose is to solve the challenges of traditional cloud computing solutions, such as inadequate capacity, high costs and long waiting times to access hardware.

Although DEGEN recorded significant gains, the same cannot be said for the IO token. After all, the asset, which occupies the 299th position in the market capitalization ranking, registered a slight drop of 0.6% in the last 24 hours. IO is currently priced at $1.75.

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