The news of Coinbase (NASDAQ:COIN) planning to list perpetual futures for Pepe coin has evidently had a notable impact on its market performance. Pepe Coin price had surged before the renewed tensions in the Middle East sent the entire crypto market lower. Pepe coin price surged nearly 10% right after the announcement. This kind of sharp increase is typical in the crypto market where news of new listings on major exchanges can lead to speculative buying. However, the pullback in Pepe coin price then followed. This suggests that while the initial excitement was strong, it was followed by a wave of profit-taking.