Coinbase Listing Shiba Inu, Floki, Bonk Perpetual Futures

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

Coinbase International Exchange in a post on X on May 23 announced Bonk, FLOKI, and Shiba Inu perpetual futures listing. The support for additional meme coins by the crypto exchange indicates massive meme coins trading on the Coinbase International Exchange and Coinbase Advanced.

Users can start trading 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP from 9:30 am UTC on May 30, 2024. These new futures contracts reflect Coinbase’s strategic effort to provide a diversified trading experience for crypto enthusiasts and investors.

Meme coins Shiba Inu, Floki, and Bonk are likely to witness a massive upside momentum after the listing next week. Dogecoin, Pepe Coin, and dogwifhat meme coins are among the most traded crypto on the Coinbase International Exchange and Coinbase Advanced.

Coinbase International Exchange also opened trading for ONDO-PERP, PYTH-PERP, and ZETA-PERP today, increasing the crypto supported by the platform to 47 cryptocurrencies. The derivatives trading exchange recorded $1.27 billion in trading volumes today, with total open interest rising to $33.39 million.

Also Read: Coinbase Loses Supreme Court Case Over Dogecoin Dispute

SHIB, FLOKI, BONK to Rally?

Listing on Coinbase platforms will be a major catalyst for price upsurge in Bonk, FLOKI, and Shiba Inu. Traders didn’t react immediately to the announcement, but these meme coins are likely to witness a rally similar to PEPE after Coinbase announced the listing.

SHIB price is down 5% in the past 24 hours and 1% up in a week. The price is currently trading at $0.00002451. The 24-hour low and high are $0.00002409 and $0.00002568, respectively. Furthermore, the trading volume has decreased by 30% in the last 24 hours, indicating a decline in interest among traders.

FLOKI price has dropped 2% in the last 24 hour after a more than 10% jump last week, with trading volumes still intact on the higher trend.

Meanwhile, BONK price jumped 5% in the last 24 hours, with the price currently trading at $0.00003488. The price has rallied over 46% in a week and 55% in a month.

Also Read: Gary Gensler Praises US SEC’s Achievements in Court on Crypto Cases

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.