Market News

Dogecoin and Shiba Inu Seize Spotlight in Coinbase’s New Derivatives Offering

Coinbase has recently announced the inclusion of Dogecoin and Shiba Inu in its new product expansion, specifically US perpetual-style futures trading.

This marks a significant development for these meme-based cryptocurrencies within the regulated crypto derivatives market.

The launch allows both retail and institutional traders to access futures trading around the clock through Coinbase Derivatives.

A striking aspect of this rollout is the positioning of Dogecoin and Shiba Inu alongside established altcoins like Cardano and Chainlink, indicating a shift in how these tokens are perceived in institutional trading environments.

The introduction of a 1,000x multiplier for Shiba Inu futures signifies a heightened demand for trendy exposure to these assets beyond traditional spot trading.

Despite recent price actions reflecting declines and subdued whale activity, futures availability could enhance trading volume and market engagement for DOGE and SHIB.

This new product may provide institutional traders with effective risk management tools while increasing the visibility of these meme coins in the crypto market.

Currently, both Dogecoin and Shiba Inu are trading at their lowest price points in over a year, further illustrating the challenges they face.

Market analysts note that Dogecoin needs to reclaim the $0.13 mark to reverse its bearish trend, while Shiba Inu must regain key consolidation levels.

As the crypto market evolves, the fortunes of Dogecoin and Shiba Inu may hinge on their ability to adapt and leverage new trading mechanisms like those offered by Coinbase.