Robinhood announced the addition of Pudgy Penguins (PENGU), POPCAT, and Peanut the Squirrel (PNUT) to its meme token list, expanding its market presence.
New Assets on Robinhood
PENGU ($PENGU), PNUT ($PNUT), and POPCAT ($POPCAT) have been listed on the platform. This followed rumors and an official confirmation on X. Pudgy Penguins also confirmed the listing, extending their reach to a mainstream audience.
Current Positions of Meme Tokens
All three tokens are trading near their lower range. POPCAT lost part of its user base in the past three months. PENGU struggled to maintain interest, reducing its number of holders. PNUT is considered the riskiest due to losing over 90% of its value from the bull market peak.
Market Conditions and Memes
The new listings are seen as a positive signal but attract less attention in the current market downturn. Despite no significant market reaction, memes might attract attention and revive trading in the future.
The addition of new meme tokens on Robinhood shows the platform's interest in expanding its crypto offerings despite prevailing market pessimism. In the future, this may stimulate interest in less liquid memes and support market recovery.
