It will remain as an issue if op doesn't receive his first merit.
~snip~
No, he also needs to get 23 activity and posts more to be able to rank up to jr.member with one merit that would increase the limit and able to edit the signature code.
If he is in a hurry I think you can be able to edit the signature code if you upgrade the account to copper membership. It is the same as the benefits of member rank(Already suggested above). This is only a good option if you are in a hurry but for now better to stay active and contribute to the forum to receive merit from merit source.
Am not accusing op to be affiliated by Cobinhood exit exchange neither accuse Cobinhood to be a confirmed exit scam as i don't have valid proofs , but this looks a little bit shady with op promoting it in his signature then get stuck to remove it after deleting all his post history .
About your doubts about OP I think cobinhood is running a bounty signature campaign managed by
janggernautRead this
https://bitcointalk.org/index.php?topic=2169745.msg23566101#msg23566101So it means MR_Roken is one of the campaign participants and not a scammer.