Coinbase Listing Shiba Inu, Floki, Bonk Perpetual Futures

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As an analyst with a background in cryptocurrency trading and market analysis, I believe that Coinbase’s decision to list perpetual futures contracts for Shiba Inu (SHIB), FLOKI, and BONK is a strategic move to cater to the growing demand for meme coins among crypto enthusiasts and investors.

Coinbase, one of the leading cryptocurrency exchanges, has revealed plans to roll out perpetual futures contracts for three prominent meme coins: Shiba Inu (SHIB), FLOKI, and BONK. These perpetual futures contracts will be accessible for trading on Coinbase International Exchange and Coinbase Advanced platforms.

Coinbase Expands Derivatives Offering with SHIB, FLOKI, and BONK

On May 23, Coinbase International Exchange made an announcement via post that they will be listing perpetual futures for Bonk, FLOKI, and Shiba Inu. This move by the crypto exchange underscores significant trading activity in meme coins on Coinbase International Exchange and Coinbase Pro.

Starting from 9:30 am UTC on May 30, 2024, I can begin trading with the new futures contracts for 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP. Coinbase is introducing these contracts as part of their commitment to broaden the trading horizons for crypto fanatics and investors alike.

The Shiba Inu, Floki, and Bonk meme coins are anticipated to experience significant price surges following their upcoming listings next week. Notably, Dogecoin, Pepe Coin, and Dogwifhit are popular meme coins that consistently rank high in trading volume on both the Coinbase International Exchange and the Coinbase Pro platform.

Today, Coinbase International Exchange introduced trading for ONDO-PERP, PYTH-PERP, and ZETA-PERP, expanding its roster of supported cryptocurrencies to 47. The derivatives exchange reported a significant trading volume of $1.27 billion today, while the total open interest increased to $33.39 million.

SHIB, FLOKI, BONK to Rally?

As an analyst, I believe that the listing of Bonk, FLOKI, and Shiba Inu on Coinbase platforms will significantly boost their prices. Initially, traders may not show an immediate reaction to this news, but based on historical market trends, these meme coins are expected to experience a surge similar to PEPE following Coinbase’s announcement of listing.

The price of SHIB has dipped by 5% over the past day, but has managed to gain a modest 1% increase in value within the last week. At present, the coin is being exchanged at the rate of $0.00002451. Over the previous 24 hours, the lowest and highest prices recorded were $0.00002409 and $0.00002568 respectively. Moreover, there has been a notable decrease of approximately 30% in trading volume over the same timeframe, suggesting a waning interest from traders.

The cost of FLOKI decreased by approximately 2% over the past 24 hours, following a robust increase of over 10% the previous week. Significant trading activity continues to be observed, reflecting the persistent upward trend.

Over the past day, BONK’s price has surged by 5%, now sitting at $0.00003488 on the market. In just one week, there’s been a significant increase of 46%, and within the last month, the price has soared by an impressive 55%.

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2024-05-23 21:06