Coinbase Expands Listing of SHIB, FLOKI and BONK in Perpetual Futures

Coinbase, a leading U.S. cryptocurrency exchange, recently announced a significant expansion in its perpetual futures offering, integrating three popular dog-themed crypto assets: Shiba Inu (SHIB), Floki (FLOKI), and Bonk (BONK). This inclusion is scheduled to take effect at 9:30 am UTC on May 30, 2024, as revealed by Coinbase on its international platform.

This new development follows in the footsteps of the success of Pepe (PEPE), a frog-themed meme coin, which saw its prices reach new all-time highs after being listed by Coinbase International. The popularity of PEPE perpetual futures, with a thousand-fold multiplier, reached a staggering volume of $5.36 billion in the last 24 hours, surpassing even Dogecoin in terms of derivatives trading volume.

@CoinbaseIntExch will add support for Bonk, FLOKI, and Shiba Inu perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP markets will begin on or after 9:30am UTC 30 MAY 2024. $BONK $FLOKI $SHIB pic.twitter.com/TNNAFEjtHH

— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) May 23, 2024

The newly listed SHIB, FLOKI and BONK smart contracts on Coinbase are designed to attract advanced traders and derivatives investors by offering sophisticated tools for trading in the volatile crypto market.

The impact of this expansion was immediately visible in the market. After the announcement, the trading volume of the FLOKI contract multiplied a thousand times increased by 18%, reaching US$375.58 million in just 24 hours. This predominant activity occurred on Binance, where traders showed notable optimism, evidenced by the long versus short position ratio of 2.0166.

Meanwhile, the cryptocurrency market, Floki is up 3% in the last 24 hours, however, accumulating a gain of 18% in the last month. Comparatively, Bonk saw a 2% drop in the last day. SHIB was up 1% on the day near $0.00002441.

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