Coinbase has recently launched full-trading mode for meme coins like Shiba Inu, FLOKI, and BONK, offering more trading options.
Coinbase International Exchange recently announced the completion of the full-trading mode launch for Shiba Inu, FLOKI, and BONK on its platform. Investors have expressed hope as a result of this revelation, which comes shortly after the exchange debuted these meme coins in a mode that allows only posts.
Meanwhile, the revelation coincides with a gloomy trading scenario in the broader cryptocurrency market, particularly in the meme coin sector. Despite this, it is believed that this new revelation will likely make people more optimistic about the possibility of price recovery.
Coinbase Launches SHIB, FLOKI, BONK In Full Trading Mode
Coinbase’s decision to enable full trading for Shiba Inu, FLOKI, and BONK represents a significant step forward. Before, these meme coins were only accessible through the post-only mode; however, they are now able to be traded using limit, market, stop, and stop-limit orders.
Particularly noteworthy is the fact that this move demonstrates an increasing demand for these digital assets on the Coinbase International Exchange and Coinbase Advanced in general. On the other hand, expectations had already begun to build up after Coinbase disclosed their intentions to launch perpetual futures contracts for these meme coins.
On May 23, the cryptocurrency exchange made the announcement that it would be listing perpetual futures for Bonk, FLOKI, and Shiba Inu on its platform. This support for additional meme currencies is a clear indication of the growing popularity of these assets on Coinbase, as well as the volume of trade that occurs on the platform. On the other hand, the cryptocurrency market as a whole, in addition to the meme coin sector, has been experiencing lackluster trading in recent times.
Price increases, on the other hand, are frequently the result of good statements made by big exchanges like Coinbase. We anticipate that the listing on Coinbase platforms will serve as a significant stimulus if Bonk, FLOKI, and Shiba Inu values continue their upward trend.
Despite not reacting immediately to Coinbase’s announcement, there remains a significant possibility of a market rally. It is important to note that past patterns demonstrate that listings of this kind might result in significant price hikes. Taking this into consideration, the investors are now crossing their fingers that Shiba Inu, FLOKI, and BONK will experience a similar shift in momentum.
We anticipate that the launch of Shiba Inu, FLOKI, and BONK in full-trading mode will attract a significant number of traders and investors, potentially leading to an increase in the values of these cryptocurrencies. On the other hand, in spite of the statement, the prices for today’s trading were negative. As of this writing, the price of Shiba Inu was trading at $0.00002612, which is a 4.15% decrease from the previous day.
Additionally, the trading volume of Shiba Inu dropped by 39% to reach $1.46 billion. At the same time, the price of BONK dropped by more than sixteen percent, reaching $0.00003308, which reflected the pessimistic outlook that was prevalent in the market.In a similar fashion, FLOKI’s price experienced a decline of about 12% in the past twenty-four hours, reaching $0.0002449 at the time of this writing.