Coinbase put three new assets on its listing roadmap: PENGU, POPCAT, and MORPHO. This announcement only caused momentary price gains for all three tokens, possibly suggesting that the market is less interested.

The two meme coins have both endured recent volatility, but MORPHO currently has substantial momentum. Nonetheless, this pattern repeated across all three listings.

Is Coinbase’s Roadmap Losing Relevance?

Coinbase, one of the world’s leading crypto exchanges, just added three new assets to its listing roadmap: PENGU, POPCAT, and MORPHO.

Typically, these additions cause huge spikes in an asset’s price, but that has not happened today. All three of these coins experienced a brief price jump, but these gains quickly evaporated.

It’s presently unclear why these gains have proved so ephemeral. Two of the new assets on Coinbase’s roadmap, POPCAT and PENGU, are noteworthy meme coins. Both, however, have seen recent price troubles.

PENGU, for one, reached its lowest price in late January and shows little signs of recovery. POPCAT’s decline was in December, but it has also remained low.

MORPHO, on the other hand, stands out from the other offerings on Coinbase’s roadmap. It’s not a meme coin but a legitimate DeFi project creating infrastructure for on-chain lows.

It was a high performer in January and even entered a partnership with Coinbase. That may explain why it’s on the roadmap but not why it has also underperformed.

Perhaps it’s too early to determine what impact a future listing will have on these assets. At the time of writing, Coinbase put them on its roadmap only a few hours ago, and more dramatic changes may happen throughout the week.

However, the meme coin space is extremely fast-paced, making this seem unlikely. Instead, another explanation is possible.

The last two additions to Coinbase’s roadmap before this bear remarkable similarities. When it listed MOG in December, the asset’s price continued to struggle.

Last month, when it listed TOSHI, the immediate price spike was quickly slashed by new profit-taking. The asset still grew that day, but these gains proved ephemeral.

MORPHO’s inclusion also proves that these trends are not related to recent market performance. Perhaps these Coinbase announcements are losing their ability to move traders.

Meme coins took a hit this week as bearish market conditions dragged even Bitcoin down to $95,700. With altcoins extending their downtrend, investor losses continued to mount.  

BeInCrypto analyzed three meme coins that once stood out as top performers but are now undergoing significant corrections.

Dogecoin (DOGE)

Dogecoin, the largest meme coin, experienced a sharp 25% decline this week, reaching a two-and-a-half-month low of $0.248. The price fell through the critical support of $0.268, signaling increased bearish pressure. With investor sentiment weakening, DOGE faces the risk of extended downside unless buyers step in.  

The next key support for Dogecoin is at $0.220, a level that could determine its short-term trajectory. If the price reaches this support, investors may begin selling off their holdings to minimize losses.

Increased liquidation pressure could push DOGE lower, further extending its downtrend and amplifying market-wide concerns.  

A reversal remains possible if Dogecoin manages to reclaim the $0.268 support level. Flipping this resistance into support could fuel a recovery, allowing DOGE to aim for $0.311 and beyond. This would invalidate the bearish outlook and restore investor confidence. 

SPX6900 (SPX)

SPX suffered a significant correction, declining 50% over the past week to trade at $0.642 at the time of writing. The steep drop has put the meme coin under intense selling pressure, raising concerns among investors. Despite the decline, SPX continues to hold above a key support level.  

Currently maintaining support at $0.568, SPX remains vulnerable to consolidation within a narrow range. Historically, the meme coin has struggled to break above $0.759, delaying any meaningful recovery. If price action remains subdued, SPX could continue fluctuating between these levels, making a strong rebound less likely in the short term.  

A bullish reversal could occur if SPX flips the $0.759 resistance into support. This shift would signal renewed buying interest, allowing the meme coin to push toward $0.91. A breakout above this level would invalidate the bearish outlook.

Fartcoin (FARTCOIN)

FARTCOIN experienced a steep 58% decline this week, trading at $0.468 at the time of writing. This sharp drop positioned it as one of the worst-performing meme coins. The downturn intensified as FARTCOIN fell below the critical $0.600 support level, increasing selling pressure and dampening investor sentiment in the market.  

The next key level for FARTCOIN is $0.377, where a bounce could help stabilize the price. However, weak momentum raises concerns about continued consolidation below $0.600. Without significant buying pressure, the meme coin could struggle to regain lost ground, leading to prolonged stagnation in its price movement.  

A potential recovery remains possible if FARTCOIN reclaims the $0.600 support level. Flipping this barrier into support could pave the way for an upward push toward $0.693. A breakout above this resistance would invalidate the bearish outlook, potentially restoring investor confidence and fueling a broader recovery in the meme coin’s price.

Japan’s FSA requested Apple and Google to remove five crypto exchanges from its app stores. The FSA claims that these exchanges are unregistered and did not meet compliance despite past warnings.

The businesses in question are KuCoin, Bybit, Bitget, MEXC Global, and LBank Exchange. Several of them had been trying to reach compliance in other jurisdictions.

Japan Bans Five Exchanges

According to local reports, Japan’s Financial Services Agency (FSA) has asked Apple and Google to block downloads for five crypto exchanges.

Specifically, the FSA targeted KuCoin, Bybit, Bitget, MEXC Global, and LBank Exchange. As BeInCrypto reported earlier, the regulator previously warned these businesses about failing to comply with registration requirements. It seems these warnings went unheeded.

Despite this crackdown on unregistered exchanges, Japan has actually made several recent overtures to the crypto industry. For example, the FSA began reviewing crypto tax laws last year in an attempt to lower them.

Lawmakers have also started advocating for a Bitcoin Reserve, and some ETF issuers believe a Bitcoin ETF is nearing approval.

Despite the positive momentum, the regulator cannot ignore flagrant violations like these exchanges were committing. It seems that none of the firms in question made any attempt to reach compliance since the warning in September.

Only Bybit has released a statement, and it seems to ignore the problem outright:

“We want to clarify recent discussions about Bybit’s services to our Japanese language users. Bybit is continuing to offer services to Japanese language users. We sincerely apologize for any inconvenience this may have caused. We are committed to working closely with the authority to ensure we meet all local regulatory expectations,” it claimed.

It’s very unclear what the firm means by this. When Deribit exited Russia yesterday, the company’s statements made it clear that Russian users abroad can only access its services under very specific conditions.

Will these exchanges claim similar exceptions for users outside Japan? Whatever the new terms are, they seem poorly thought out.

The most confusing element is that most of these exchanges have sought to improve regulatory compliance in countries other than Japan. Bybit acquired a license in India yesterday, and KuCoin reached a settlement with the US last month.

Also, Bitget has a proactive strategy to fulfill EU requirements. Japan warned these companies months ago, but they seemingly did nothing.

“These platforms were low-key trading crypto in Japan without the right paperwork, and now their users are left exposed. No legal protection, no oversight—just pure chaos. Japan’s putting the crypto world on notice: follow the rules or face the consequences,” Mario Nawfal wrote on X (formerly Twitter).

Overall, it’s unclear how long these exchanges will be banned in Japan or if they’re even interested in returning. This incident will serve as one more data point in a sordid chart of fines, bans, and criminal charges.