Shiba Inu (SHIB) Skyrockets into Top Ranks With New Major Index Inclusion

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WOO X, a popular crypto exchange, has created buzz in the digital currency world today by introducing groundbreaking index perpetual contracts. In collaboration with respected market maker Wintermute and indices provider GMCI, WOO X now grants traders exposure to an extensive collection of indices. These indices encompass meme coins, leading cryptocurrencies, and tokens from layer-2 networks.

The GMCI MEME index is one of the new features worth mentioning, as it highlights popular meme coins like Shiba Inu (SHIB), Dogewifhat (WIF), and Dogecoin (DOGE). Among these, SHIB holds a significant position with a massive market capitalization of $16.22 billion, ranking it as the 12th largest cryptocurrency in total. Impressively, meme coins account for around 27% of the entire segment, with SHIB alone controlling about $59.89 billion of that value.

Today, WOO X is leading the charge among centralized exchanges by introducing new indices for L2 and Memes, in addition to GMCI 30, which is spearheaded by gmci_. Expanding your crypto investments has never been easier (1/7).

— WOO X (@_WOO_X) April 10, 2024

WOO X’s innovative step as a centralized exchange (CEX) is the initial introduction of index perpetual contracts. This new feature allows traders to take on varying risks and capitalize on broader market tendencies. In partnership with GMCI and Wintermute, WOO X has rolled out three unique index perps: GMCI 30, GMCI Meme, and GMCI L2.

The GMCI MEME index, which attracts traders wanting to invest in the rapidly expanding meme token sector, is notably significant. By adding the Shiba Inu token to this index, its rise within the crypto market has been reinforced, demonstrating the increasing power of meme coins in the digital currency world.

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2024-04-10 16:20