Including Shiba Inu, Pepe Coin, and Dogwifhat as collateral for futures trading by Kraken Exchange has sparked speculation regarding a potential price increase for these memecoins.
Kraken exchange‘s most recent announcement regarding the three most popular meme currencies, Shiba Inu, Pepe Coin, and Dogwifhat, has captivated the attention of investors. This most recent development has also sparked speculation regarding the possibility of a token rally in response to the update. The crypto exchange has recently announced that it has included these three meme coins as collateral for futures trading.
Kraken Exchange Enhances Futures Collateral Options
Kraken Exchange has recently announced its intention to broaden its trading options, which has piqued traders’ interest. It is also worth noting that including Shiba Inu, dogwifhat (WIF), and Pepe Coin (PEPE) has sparked discussions regarding its potential influence on prices.
Investors are anticipated to benefit from this change, as it will increase their accessibility and adaptability. Consequently, the engagement of these tokens may increase. To take advantage of this feature, investors must transfer SHIB, WIF, or PEPE from their Kraken spot wallets to their futures wallets.
In the interim, this functionality broadens the utility of Shiba Inu and the other meme currencies beyond conventional spot trading, granting them a foothold in the more intricate futures market. These tokens’ market demand and visibility may increase as they are integrated into more sophisticated trading strategies, potentially resulting in price fluctuations.
In other words, the crypto community has reacted enthusiastically to the announcement as investors speculate about the potential impact on the market performance of these tokens. The crypto exchange appears to be meeting the increasing demand for top meme currencies by incorporating these assets.
Will the prices of SHIB, WIF, and PEPE increase?
Including Shiba Inu, WIF, and PEPE as collateral on Kraken is timely, as it occurs just before the scheduled listing of WIF and PEPE on Kraken Pro for Canadian users. Due to their timing, these tokens have been the subject of speculation regarding a prospective rally. It is worth noting that the expanded collateral options frequently result in heightened investor interest and trading activity.
In the interim, market analysts contend that this action could increase the liquidity of these tokens and potentially increase their prices. The exchange capitalizes on a passionate and committed investor community by incorporating popular meme coins into its futures trading infrastructure.
SHIB’s trading volume decreased by 23% to $192.23 million, while its price increased by 1.58% to $0.000014 at the time of writing. Despite reaching a 24-hour peak of $0.000008188, the price of Pepe remained near the flatline at $0.00000763. However, the WIF price declined by more than 1% to $1.54, a significant decline from its 24-hour high of $1.69.
