invezz.com
Shiba Inu (SHIB/USD), Dogecoin (DOGE/USD), and a wide variety of other memecoins have experienced significant growth in the last 72 hours. At the Bitrue exchange, their volumes have increased by up to 10x. Bitrue will be launching SHIB futures trading on the back of this interest.
Price of SHIB triples over past week
Within the last week, the price of Shiba Inu tripled and trading volume increased by 1,000%. This tendency has reflected on most of the other meme coins on the market, including Dogecoin, Samoyedcoin, Australian Safe Shepherd, and Shih Tzu. Traders are racing to find the next big coin that will attract huge attention from the media and influencers and yield mass profit for market players.
Catcoins follow suit
Alternative memecoins have felt the madness too. The price of catcoin CATO quadrupled over the last 24 hours.
Bitrue launches SHIB futures
To capitalize on the frenzy, crypto exchange Bitrue will be launching futures trading in Shiba Inu on October 30. They will feature a SHIB/USDT pair with customizable leverage of as much as 50x. at present, Bitrue supports more than 30 cryptos in its Futures service. The full list is available on their website.
Adam O’Neill, Chief Marketing Officer of Bitrue, said:
This week has proven that crypto markets remain very unpredictable, with a large contingent of investors eschewing the traditional method of evaluating a coin’s fundamentals and instead playing a psychological game of following popular trends. At Bitrue we have spent months supporting a wide variety of tokens, including memecoins, and users are now flocking to the exchange to invest in them early.
New signups on the platform beat predictions by 150%
Over this period, the number of newcomers on Bitrue was 150% higher than expected. The diversified exchange, which was founded in July 2018, offers support for trading, loans, and investments. Bitrue aims to bring financial opportunities to everybody by utilizing blockchain technology regardless of their financial status or location.
With offices all over the world, Bitrue is always working on high-speed development of new features to provide full service to the new wave of the digital economy.