As a researcher with a background in crypto markets and meme coins, I find Coinbase’s recent decision to enable full trading for Shiba Inu (SHIB), FLOKI, and BONK an intriguing development. The transition from post-only mode to full trading comes at a time when the broader crypto market is experiencing sluggish trading, especially in the meme coin sector.
Coinbase International Exchange has officially initiated full trading for Shiba Inu, FLOKI, and BONK coins on their platform, generating excitement among investors following their previous introduction in a restricted post-only mode.
At the same time, this declaration emerges against the backdrop of a dismal cryptocurrency trading environment, not to mention the meme coin segment. Yet, there’s optimism that this news might spark renewed expectations for a market rebound.
Coinbase Launches SHIB, FLOKI, BONK In Full Trading Mode
The decision by Coinbase to allow for full trading of Shiba Inu, FLOKI, and BONK represents a notable advancement. Prior to this change, these meme coins could only be used in a “post-only” mode. Now, traders can execute orders for these digital assets using various options such as limit, market, stop, and stop-limit orders. This shift suggests that there is increasing interest in these coins on both Coinbase International Exchange and Coinbase Advanced.
As the excitement mounted, news broke out that Coinbase intended to introduce perpetual futures contracts for Bonk, FLOKI, and Shiba Inu. On May 23rd, this was officially confirmed by the crypto exchange. Importantly, the inclusion of these meme coins on Coinbase underscores their growing popularity and significant trading activity within the platform.
As a crypto investor, I’ve noticed that the broader market and meme coins have seen relatively low trading volumes lately. However, optimistic news from prominent exchanges such as Coinbase can spark price increases. Specifically, the listing of cryptocurrencies like Bonk, FLOKI, and Shiba Inu on Coinbase’s platforms is anticipated to serve as a substantial catalyst for a bullish trend in their prices.
Prices & Performance
The response from the market to Coinbase’s announcement was initially underwhelming, but there’s a strong possibility of a significant price surge in the future. It’s worth noting that past data indicates that listings on major exchanges like Coinbase can trigger considerable price jumps. Consequently, investors are optimistic about Shiba Inu, FLOKI, and BONK experiencing a comparable market uplift.
To put it another way, the integration of Shiba Inu, FLOKI, and BONK into active trading is believed to draw a large crowd of traders and investors, potentially causing an increase in their values. Nevertheless, these cryptocurrencies saw declining prices today despite this news.
I’ve noticed that as of now, Shiba Inu’s price is at $0.00002612 on the cryptocurrency charts, marking a 4.15% decrease from the previous day. The trading volume for this coin has also taken a hit, dropping by nearly 40% to reach $1.46 billion. On the other hand, BONK’s price has dived more than 16%, reaching $0.00003308. This downward trend in both coins is indicative of the pessimistic atmosphere that seems to be enshrouding the crypto market at present.
The cost of FLOKI underwent a comparable decrease, dropping approximately 12% within the past 24 hours to reach $0.0002449 at the time of composing this text.
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2024-05-30 16:14