• Coinbase adds perpetual futures for Bonk, Floki Inu, and Shiba Inu, boosting trading strategies & investor flexibility.
• Launching May 30, 2024, these futures let traders speculate on cryptocurrency prices without owning the assets.
• Following the announcement, SHIB’s trading volume surged by 24.82%, highlighting increased demand and trading activity.

Coinbase, the largest cryptocurrency exchange in the United States, has announced the addition of perpetual futures for Bonk (BONK), Floki Inu (FLOKI), and Shiba Inu (SHIB). This new offering aims to enhance trading strategies and provide greater flexibility for investors.

The new markets, 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP, are scheduled to launch at 9:30 AM UTC on May 30, 2024. These financial products will enable traders to speculate on these cryptocurrencies’ prices without owning the actual assets.

Coinbase will introduce these futures on its Coinbase International and Coinbase Advanced platforms. Coinbase International serves institutional clients outside the U.S., while the Advanced platform offers tools for professional traders.

Following the announcement, SHIB’s trading activity saw a significant boost. As of press time, Shiba Inu is trading at $0.00002435 and SHIB’s trading volume increased by 24.82%, reaching $830.56 million over the past 24 hours. This surge in interest highlights the growing demand for SHIB trading options, making the launch of 1000SHIB-PERP timely. 

Shiba Inu (SHIB) broke through an 11-week resistance level that had previously limited its price growth. Projections indicate this breakout could lead to a 210% increase, potentially raising its value to $0.000081, approaching its all-time high of $0.00008845.

On the technical side, the MACD indicator is currently above the zero line at 0.00000013, signaling a bullish trend for SHIB. The MACD histogram bars expand in the green zone, reinforcing the positive sentiment. Moreover, the Keltner Channel indicator shows reduced volatility for SHIB. The narrowing of the Keltner Channel bands suggests a period of price stability for SHIB before any significant movements occur.

With the introduction of these new perpetual futures, Coinbase is significantly expanding its offerings, thereby equipping investors with an array of additional tools to capitalize on various market opportunities and optimize their trading strategies. This move underscores Coinbase’s commitment to providing innovative solutions and enhancing the trading experience for its users.

The post Coinbase Launches Perpetual Futures for Shiba Inu, Bonk, and Floki Inu: Report appeared first on CryptoTale.