Meme coins SHIB, FLOKI, and BONK have offered investors remarkable gains amid this year's bull cycle. Here's an overview of why one should HODL these tokens.
Highlights
- Coinbase extends support for SHIB, FLOKI, and BONK.
- Whale accumulations for these tokens spike notably.
- Derivatives data underscore a market uptrend.
- Meme coins steal the spotlight amid this year's bull run.
Investment Overview
The meme coin sector has emerged as one of the most promising within the crypto realm amid this year’s bull cycle. Offering crypto investors attention-grabbing ROIs, SHIB, FLOKI, and BONK have led the pack, fueling immense 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.
1. Coinbase Support
- Coinbase has introduced perpetual futures contracts for Shiba Inu (SHIB), FLOKI, and BONK.
- These contracts are expected to inject significant capital into the coins’ ecosystem.
2. Whale Accumulations
- Reports indicate increasing whale accumulations of Shiba Inu and FLOKI.
- This suggests heightened confidence among large-scale investors in these meme coins’ future.
3. Derivatives Data
- Coinglass data shows SHIB Futures open interest (OI) has surged to unprecedented levels since February.
- BONK and FLOKI OI have also reached record highs this year.
Price Movements
- Shiba Inu (SHIB): Yearly gain of 192.80%.
- FLOKI: Rallied 622% over the same period.
- BONK:Surged 8822% in the past year.
Bottom Line
Meme coins like SHIB, FLOKI, and BONK have attracted significant attention this year, offering impressive ROIs. Their growth potential and recent developments make them attractive investment options. As the market continues to evolve, these meme coins could offer substantial returns.