Bitrabo Editorial
Coinbase, the largest cryptocurrency exchange in the United States, will add more cryptocurrencies to its perpetual futures contract. This time, the focus is on meme coins, with Shiba Inu (SHIB), Bonk (BONK), and Floki (FLOKI) among the prominent tokens.
Coinbase to Include New Meme Coins in Perpetuals
Coinbase International Exchange announced on May 24 that it will introduce perpetual futures contracts for three meme coins – Shiba Inu, Bonk, and Floki. These cryptocurrencies will start trading officially on May 30 at or after 9:30 am.
By listing these coins, Coinbase is expanding trading opportunities for its global user base. Moreover, the exchange will carry out trades on Coinbase International Exchange and Coinbase Advanced, tailored for experienced traders.
Furthermore, Coinbase plans to launch 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP, multiplying smart contracts by 1,000 for derivatives traders.
As meme coins gain popularity, Coinbase introduced Pepe (PEPE) and Dogecon (DOGE) last month, with 1000PEPE-PERP becoming one of the most traded meme coins on the platform.
Given the demand for Shiba Inu, Bonk, and Floki, Coinbase anticipates a surge in trading activity, especially as these coins rank in the top 10 by market capitalization among meme coins.
Coinbase has been expanding its support for various cryptocurrencies in its perpetual futures contracts. Before announcing the listing of SHIB, BONK, and FLOKI, the exchange also unveiled trading for Ondo Finance (ONDO), Pyth Network (PYTH), and ZetaChain (ZETA) perpetual futures.
Increased Momentum for Shiba Inu, BONK, and FLOKI
Following the listing on Coinbase, Shiba Inu, Bonk, and Floki have seen gains. While SHIB’s price has risen by 4.55% to $0.000024, BONK surged by 12.73% to $0.000036, and Floki went up by 7.75% to $0.00023.
Although the new derivatives listing may have impacted the prices positively, the trading volume for these coins in the last 24 hours has decreased significantly. Shiba Inu saw a decline of 54.93%, Floki 40.44%, and Bonk 47.56%.
Despite the decrease in trading volume indicating cautious investor sentiment, SHIB, BONK, and FLOKI continue to gain traction amidst market fluctuations and current conditions.