Kraken Adds SHIB, PEPE, WIF As Future Collateral Assets; Prices To Rally?

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As a seasoned researcher and crypto investor with over a decade of experience, I have witnessed the dynamic nature of the digital asset marketplayground. The latest Kraken announcement, adding three popular meme coins to its futures trading collateral, has certainly piqued my interest.

A recent announcement of Kraken around the three top meme coins, Shiba Inu, Pepe Coin, and dogwifhat, has caught investors eyes. This latest development has also fueled discussions over a potential rally of the tokens due to the update. As per the latest announcement, the crypto exchange has added these three meme coins as collateral for futures trading.

Kraken Expands Futures Collateral Options

Kraken, a leading cryptocurrency exchange, has attracted attention among traders with its recent declaration to broaden its range of future trading options. Significantly, the incorporation of Shiba Inu, Dogewhatt (WIF), and Pepe Coin (PEPE) into these offerings has ignited conversations about their possible influence on prices.

As a researcher studying the crypto market, I’m excited about a new development that promises to enhance flexibility and accessibility for investors. This change could potentially boost the involvement of tokens like SHIB, WIF, or PEPE, by enabling them to be traded in Kraken’s futures market. To benefit from this feature, investors would need to transfer their respective tokens from their Kraken spot wallets into their futures wallets.

Additionally, this feature extends the versatility of Shiba Inu and similar meme coins beyond simple spot trading, allowing them entry into the intricate world of futures trading. As these coins get integrated into advanced trading methods, their market demand and exposure may grow, potentially causing fluctuations in their prices.

Essentially, the crypto community is excited about the announcement since it’s sparking discussions among investors about how these new tokens might affect market trends. It seems that by incorporating these popular meme coins, the cryptocurrency exchange is responding to the increasing interest in them from investors.

Will SHIB, WIF, & PEPE Prices Rally?

At an opportune moment, prior to the anticipated launch of WIF and PEPE on Kraken Pro for Canadian clients, Shiba Inu, WIF, and PEPE have been added as collateral. This timing has sparked discussions about a possible surge in these tokens’ value. Importantly, the broadened options for collateral can frequently stimulate heightened trading action and growing investor attention.

In simpler terms, financial experts believe this action might make these tokens easier to trade, possibly causing their prices to rise. By merging well-known meme coins with its futures trading system, the platform is catering to an active and passionate group of investors who are interested in these coins.

Currently, Shiba Inu coin’s price has increased by 1.58%, reaching $0.000014. However, its trading volume decreased by 23% to approximately $192.23 million. Pepe coin remained relatively stable at around $0.00000763, having touched a 24-hour high of $0.000008188 earlier. In contrast, the price of WIF dropped by more than 1%, from its previous 24-hour high of $1.69 to $1.54 at this moment.

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2024-08-30 01:45