Attorney Bill Morgan has criticized Coinbase's Chief Legal Officer, Paul Grewal, for apologizing to the Pepe community but not to XRP enthusiasts. Grewal issued a public apology to Pepe enthusiasts after the exchange linked the meme-based cryptocurrency to an alt-right hate symbol. However, Morgan pointed out that Coinbase has not apologized to XRP community members for halting trading of the crypto asset on the exchange or for failing to distribute the Songbird airdrop to XRP holders. Morgan has previously commented on Coinbase's decision to halt XRP trading, arguing that the exchange should have relisted XRP if it uses a robust method to relist tokens.

Pepe Coin has experienced a 24% drop in the last 24 hours, bringing its value to $0.00000123, while the overall cryptocurrency market has fallen by 3%. Despite a 36% decrease in the past week, Pepe Coin has seen a remarkable 330% increase in the last 30 days. Although whales are still buying and holding Pepe Coin, its indicators are currently in oversold positions, and its short-term moving average is dropping below its long-term average, indicating a potential further decline before a true recovery. Meanwhile, SpongeBob (SPONGE) has emerged as a promising meme token, with a total maximum supply of 40.4 billion and a growing number of holders. Its recent listing on major exchange Gate.io has boosted its growth, and it may reach $0.0001 in the near future, with the possibility of more exchange listings to come. With 11,900 holders and potential for growth, investing in SpongeBob may be a wise decision.

As the popularity of the PEPE memecoin grows, scammers have started to take advantage of the hype, resulting in multiple scam attempts in the crypto space. PeckShield, a blockchain security firm, has reported at least ten meme coin scams created in the last three days alone, with scam tokens having their liquidity removed and investors being scammed.

According to Matrixport’s head of research, buyers of memecoins are hoping for life-changing money, similar to those who play the lottery. Despite having little to no discernable utility, memecoins such as Pepe and Milady have seen a huge resurgence over the last week.

Top traders are reducing their holdings of PepeCoin (PEPE), indicating a possible decline in the recent meme coin craze. Crypto intelligence firm Nansen reports that "smart money" wallets have decreased their PEPE holdings by $3 million in the past 24 hours.

Coinbase faced backlash on Twitter after referring to memecoin PEPE as a "hate symbol" in a newsletter. The hashtag #DeleteCoinbase trended as fans of PEPE threatened to move to other crypto exchanges. However, Coinbase's Chief Legal Officer, Paul Grewal, apologized for the oversight and acknowledged that the newsletter did not provide the full history of the meme. While PEPE's value had previously surged to a market cap of $1.6 billion, its price has since dropped significantly. The Anti-Defamation League has noted that while the original Pepe meme did not have racist connotations, the use of bigoted versions of the meme has increased over time.

PEPE, a meme coin, experienced a rally that ended when it reached a market capitalization of $1 billion. Since then, the price has dropped by 70% and is currently seeking support at $0.0000011. The current resistance level is at $0.0000020. Recent trading volume and price have both been in the red, and the daily RSI and MACD indicate a bearish trend. If the key support level is reached, it will be important to see if buyers become interested and if the price can bounce back to test the resistance level.

Coinbase has faced backlash from Pepe fans after sending an email claiming that the meme coin represents hate ideology. The email explained Pepe's origins and stated that the character was "co-opted as a hate symbol by alt-right groups, according to the Anti-Defamation League" (ADL). Pepe's rise in popularity saw it climb the meme coin rankings into the third spot by market cap, but the email from Coinbase has triggered an uprising from Pepe fans who are trending the hashtag #DELETECOINBASE. The issue has become contentious due to Pepe's association with the alt-right white supremacy movement.

Bone ShibaSwap, the governance token of the Shiba Inu ecosystem, is leading a poll on the Indian cryptocurrency trading platform Unocoin for the next asset to be listed. With 84.7% of the total votes, it is expected that BONE will soon be added to Unocoin's platform, making it the fourth Indian cryptocurrency exchange to support the token. Giottus, India's top-rated exchange, has already added BONE with the BONE/INR trading pair and introduced an exclusive giveaway contest for the token. The Shiba Inu community is also urging leading cryptocurrency exchanges such as Binance and KuCoin to list BONE.

The rise of memecoins, or cryptocurrencies inspired by internet memes, has become a trend in online communities. One of the most popular memecoins is PEPE, a frog-themed token that aims to surpass dog-inspired meme coins like Dogecoin. While PEPE gained popularity quickly and reached a $1 billion market capitalization in just three weeks, its marketcap quickly plummeted to $725 million on May 9.