Kraken’s latest move to include Shiba Inu (SHIB), Pepe Coin (PEPE), and Dogwifhat ($WIF) as collateral for futures trading is drawing significant attention.
These tokens, once regarded merely as meme coins, are now gaining serious traction in the futures market.
By allowing these assets to be used as collateral, Kraken is adding a new layer of flexibility to the market, which is increasing the visibility and interest in these tokens. The excitement around this development is fueling speculation about potential price rallies.
Shiba Inu has already seen a 1.58% increase, raising questions about whether Pepe Coin and Dogwifhat can follow suit. The potential for these meme coins to rise further is becoming a hot topic among traders.
Adding to the buzz, the largest holder of $WIF recently borrowed 1.4 million USDC from Kamino, using 1 million USDC to purchase 643,832 $WIF at a price of $1.55 per token just six hours ago. This whale now holds a total of 28.66 million $WIF, valued at $44.13 million, with a staggering profit of approximately $65.6 million.
As these developments unfold, all eyes are on SHIB, PEPE, and WIF to see if they can capitalize on the increased market interest and ignite a meme coin rally. Kraken’s decision to integrate these assets into the futures market might just be the catalyst needed to push their prices to new heights.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: ramirezom/123RF // Image Effects by Colorcinch
The price of Bitcoin has remained stable at around $59K in the past 24 hours.…
In the cryptocurrency market, known for its extreme volatility, token prices can vary dramatically. The…
Qubetics Presale Ready to Redefine the Future While Arweave Price Decline and Theta's Rapid Trading…
Last week saw significant shifts in Smart Money accumulation trends. Notably, $TURBO has now joined…
Approximately three hours ago, the Tether Treasury minted 1 billion USDT on the Ethereum network.…
Today at 18:00 (UTC+8), Binance will list Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin…