Shiba Inu Gets Major Boost

America’s top crypto exchange, Coinbase, has announced plans to list the popular Shiba Inu (SHIB) cryptocurrency for futures contracts. The exchange has submitted a filing to the Commodity Futures Trading Commission (CFTC) to start trading soon.

Shiba Inu has seen a major boost from Coinbase’s latest futures contracts filing. This move highlights the meme coin's growing impact in the crypto market despite current volatility. On June 28, Coinbase revealed a new list of futures products for its crypto derivatives market, including Shiba Inu and other popular cryptocurrencies. Coinbase is set to be the first U.S. exchange to offer margined futures contracts for Shiba Inu and other digital assets.

The CFTC filing details the terms of these futures contracts, Shiba Inu’s market volatility, regulatory compliance, and other certification details. Coinbase stated that adding Shiba Inu to its futures contracts will help participants manage risks, speculate on price movements, and engage more with the crypto economy with less initial capital.

This move shows Coinbase's commitment to providing diverse and accessible trading options, setting it apart from other U.S. exchanges. The new filing is expected to expand Coinbase’s digital offerings, improving the trading experience while ensuring a safe environment. Besides Shiba Inu, Coinbase will add futures contracts for Avalanche (AVA), Chainlink (LNK), Polkadot (DOT), and Stellar (XLM). These futures products will start trading on Monday, July 15.

Despite the announcement, Shiba Inu's price hasn't increased significantly. The news, which could have boosted the meme coin, has had little impact on its market sentiment. As of now, Shiba Inu trades below $0.00002, showing a 1.8% drop in 24 hours and a 38.91% decline over the past month. Since June, Shiba Inu has been underperforming, with its price dropping to $0.000017.

Despite this, the inclusion of Shiba Inu in Coinbase’s futures contracts is a notable development. It shows growing acceptance of meme coins in mainstream financial products, which could lead to greater adoption and stability in the long run.

In summary, Coinbase’s decision to list Shiba Inu for futures contracts is a significant milestone. This move not only highlights the meme coin's growing influence but also shows Coinbase’s dedication to offering diverse trading options. While Shiba Inu's price reaction has been limited, the long-term effects could be positive, offering new opportunities for investors and enhancing the trading experience on Coinbase.

As Coinbase expands its digital product offerings and maintains regulatory compliance, the future for Shiba Inu and other listed cryptocurrencies looks promising. The launch of these futures products on July 15 will be an important event to watch, potentially setting new trends in the crypto derivatives market.