Shiba Inu (SHIB/USD), Dogecoin (DOGE/USD), and a slew of other memecoins have surged in value in the last 72 hours. Their volumes have increased by up to tenfold on the Bitrue exchange. As a result of this interest, Bitrue will launch SHIB futures trading.
SHIB’s price has tripled in the last week.
Shiba Inu prices have tripled in the last week, and trading volume has increased 1,000%. Most other meme coins on the market, such as Dogecoin, Samoyedcoin, Australian Safe Shepherd, and Shih Tzu, have followed suit. Traders are racing to find the next big coin that will garner a lot of attention from the media and influencers while also making a lot of money for market participants.
Catcoins will follow suit.
Alternative memecoins have also been affected by the craziness. Catcoin CATO’s price has quadrupled in the last 24 hours.
Bitrue introduces SHIB futures.
To capitalize on the frenzy, crypto exchange Bitrue will launch Shiba Inu futures trading on October 30. They will offer a SHIB/USDT pair with up to 50x customizable leverage. Bitrue currently supports over 30 cryptos in its Futures service. The complete list can be found on their website.
Bitrue’s Chief Marketing Officer, Adam O’Neill, stated:
This week has demonstrated that crypto markets remain highly volatile, with many investors eschewing the traditional method of evaluating a coin’s fundamentals in favor of a psychological game of following popular trends. We have spent months at Bitrue supporting a wide range of tokens, including memecoins, and users are now flocking to the exchange to invest in them early.
The platform’s new signups outperformed predictions by 150 percent.
During this time, the number of new Bitrue users was 150 percent higher than expected. The diversified exchange, which launched in July 2018, provides assistance with trading, loans, and investments. Bitrue aims to provide financial opportunities to all people, regardless of their financial situation or location, by utilizing blockchain technology.
Bitrue, which has offices all over the world, is constantly working on the rapid development of new features in order to provide full service to the new wave of the digital economy.