Coinbase, the largest exchange in the United States, has announced the launch of perpetual futures for three popular cryptocurrencies: Bonk (BONK), Floki Inu (FLOKI), and Shiba Inu (SHIB). These futures contracts will allow traders to speculate on the prices of these cryptocurrencies without actually owning them. The launch is scheduled for May 30, 2024, at 9:30 AM UTC, and will be available on Coinbase International and Coinbase Advanced, catering to institutional clients outside the United States and professional traders, respectively.
Since the announcement, Shiba Inu (SHIB) has seen a significant surge in trading volume, increasing by 51.95% over the last 24 hours and reaching $955,251,666. This surge indicates a growing demand for SHIB trading options, making the upcoming launch of 1000SHIB-PERP especially timely. Currently, SHIB is trading at $0.00002390 on Coinbase.
From a technical perspective, the MACD indicator for SHIB is showing a bullish trajectory, with the indicator positioned above the zero line at 0.00000013. The MACD’s histogram bars are also widening in the green zone, further supporting the optimistic sentiment surrounding SHIB.
The Keltner Channel indicator suggests that SHIB is currently experiencing reduced volatility, as evidenced by the narrowing of the channel bands. This implies that Shiba Inu may enter a phase of price stability before any significant price movements occur.
