The meme coin sector has emerged as one of the most promising sectors within the crypto realm amid this year’s bull cycle. Offering crypto investors attention-grabbing ROIs, SHIB, FLOKI, and BONK have led the pack, fueling immense investor optimism with their cryptographic developments. Here’s an overview of why crypto investors might want to buy and hold SHIB, FLOKI, and BONK right now.
Coinbase Extends Support For SHIB, FLOKI, & BONK
Adding to the credibility of investment opportunity, Coinbase, a renowned cryptocurrency exchange, has recently introduced perpetual futures contracts for Shiba Inu (SHIB), FLOKI, and BONK. These contracts are anticipated to inject a significant amount of capital into the coins’ ecosystem, paving the way for optimistic future price movements.
Starting on May 30, users can participate in 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP trading.
Whale Accumulations On The Rise
Meanwhile, numerous reports by CoinGape Media spotlight that Shiba Inu and FLOKI accumulations by whales have been on the rise. This hints at increased confidence among large-scale investors for the meme coins’ future price movements.
On-chain data surfacing within markets has illustrated massive accumulations amid this year’s bull cycle, signaling that these tokens could pump further in the coming days.
Derivatives Data Analysis
Whereas, Coinglass data further paints an optimistic portrait of SHIB, FLOKI, and BONK meme tokens. Upon looking at open interest charts, it can be seen that SHIB Futures OI has surged to unprecedented levels since February this year. Moreover, BONK and FLOKI OI followed, surging to record highs since the start of this year’s bull run.
SHIB, FLOKI, and BONK Price Movements
CoinMarketCap’s data further underscores the phenomenal bull run embarked upon by these meme-based investment products this year. It’s worth noting that a post-BTC halving price rally has yet to kick in.
Shiba Inu’s yearly charts show gains of 192.80%, whereas FLOKI rallied 622% during the same period. BONK, on the other hand, surged exceptionally over the past year, worth 8822%.
Also Read: Bitcoin Price Hits $69,000; Will It Break $75,000 Soon?
Meme Coins: The Talk Of The Crypto Town
Moreover, meme coins have nabbed significant attention this year, offering mind-blowing ROIs to investors. A recent report by CoinGape Media further spotlights how meme coins undermine AI and big data coins despite the burgeoning adoption of AI across the globe.
This further adds a bullish splash to these meme-based investment products.
Also Read: Grayscale’s Bitcoin Dominance Threatened As Blackrock’s IBIT Eyes Top Spot
Read More: 5 Reasons To Buy And Hold SHIB, FLOKI, BONK Right Now