5 Reasons to Buy and Hold SHIB, FLOKI, bonk Now
The meme coin sector has emerged as one of the most promising sectors in the crypto world amid this year’s bull cycle. Offering remarkable ROIs to crypto investors, SHIB, FLOKI and BONK led the pack, fueling great 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 Expands SHIB, FLOKI and BONK Support
Adding to the reliability of the investment opportunity, Coinbase, a well-known cryptocurrency exchange, recently launched perpetual futures contracts for Shiba Inu (SHIB), FLOKI, and BONK. These contracts are expected to inject significant capital into the cryptocurrency ecosystem, paving the way for optimistic price movements in the future.
Starting May 30, users will be able to participate in 1000BONK-PERP, 1000FLOKI-PERP and 1000SHIB-PERP transactions.
Whale Accumulation Increases
Meanwhile, multiple reports by parofix Media point out that shiba inu and FLOKI deposits by whales are increasing. This indicates increased confidence in the future price movements of meme coins among large-scale investors.
On-chain data emerging in the markets shows that there are large accumulations in the middle of this year’s bull cycle and signals that these tokens may rise even higher in the coming days.
Derivative Data Analysis
Coinglass data further paints an optimistic portrait of SHIB, FLOKI and BONK meme tokens. A look at the open interest charts shows that SHIB Futures OI has risen to unprecedented levels since February this year. Moreover, BONK and FLOKI OI have also followed, reaching record highs since the beginning of this year’s bull run.
SHIB, FLOKI and BONK Price Movements
CoinMarketCap’s data underscores the extraordinary bull run that meme-based investment products have launched this year. It is worth noting that the price increase after the BTC halving has not started yet.
While Shiba Inu’s annual charts showed an increase of 192.80%, FLOKI increased by 622% in the same period. BONK, on the other hand, showed an extraordinary increase last year, reaching a value of 8822%.
Also Read: Bitcoin Price Reaches $69,000; Will It Break $75,000 Soon?
Meme Coins: The Talk of the Crypto Town
Moreover, meme coins have attracted a lot of attention this year, offering investors mind-blowing investment returns. A recent report from parofix Media further highlights how meme coins are undermining AI and big data coins, despite the increasing adoption of AI around the world.
This further fuels the bullish trend towards meme-based investment products.
Also Read: Grayscale’s Bitcoin Dominance Under Threat at Blackrock’s IBIT Eyes Summit
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The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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