Robinhood Adds PEPE to US Platform Amid Growing Retail Interest

Robinhood's US trading platform has added PEPE, an Ethereum-based memecoin, to its list of available tokens. The token, which launched in mid-April 2023 with a fixed total supply of 420.69 trillion tokens, allows for manual burns through the deliberate transfer of tokens to a 'dead wallet' address.

The listing on Robinhood comes after an earlier rollout on the brokerage's European platform in February 2024 and follows a notable single burn event in October 2023 where 6.9 trillion tokens were eliminated from the project's multisig wallet, accounting for approximately 1.6% of the total supply.

The move gives millions of retail investors one-click access to PEPE through Robinhood, which requires only a phone and bank account for trading, unlike buying on Uniswap which demands an Ethereum wallet and gas fees.

PEPE's listing has been met with price gains following the announcement, driven by increased retail participation and speculation surrounding new listings on high-traffic platforms.