Dogecoin And Shiba Inu Make Coinbase’s List In Latest Product Launch

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Dogecoin and Shiba Inu have secured a place in Coinbase’s latest product expansion, a notable moment for meme coins within the regulated crypto derivatives market. Coinbase confirmed the launch of US perpetual-style futures trading in an announcement on X for a range of altcoins on Coinbase Derivatives, available around the clock.

Coinbase Expands Derivatives Access With Meme Coins Included

According to a recent announcement on X, US Perpetual-Style Futures are now live on Coinbase Derivatives. Among a lineup dominated by established layer-one networks and infrastructure tokens, Dogecoin and Shiba Inu stood out as the only meme-based assets included, showing how these tokens are being positioned within institutional-grade trading environments.

The new product rollout allows both retail and institutional traders to access US-regulated perpetual-style futures through approved Futures Commission Merchants. Coinbase is effectively placing both meme coins alongside assets such as Cardano, Chainlink, and Polkadot in its derivatives ecosystem with its extension of this offering to Dogecoin and Shiba Inu. In the case of Shiba Inu, the newly listed futures contract comes with a 1,000x multiplier.

This means that demand for structured exposure to these leading meme coins has grown beyond spot trading, with traders increasingly seeking hedging and leverage tools tied to them.

What This Means For DOGE And SHIB Moving Forward

Recent price action for both Dogecoin and Shiba Inu has offered little encouragement. Both cryptocurrencies are currently locked in an extended declining price action and low whale activity, except for a spike in whale activity witnessed by Shiba Inu earlier in the month. This occurred in tandem with a +1.06 trillion net change to the amount of SHIB on exchanges, which is also another sign of the intense selling pressure surrounding the meme coin.

However, behind the scenes, Dogecoin and Shiba Inu might be working towards a bullish momentum in their fundamentals. For one, the availability of perpetual-style futures for Dogecoin and Shiba Inu could add to how traders interact with these assets. Futures markets often attract higher trading volumes and more sophisticated participants, which can influence price discovery and volatility patterns.

As the largest crypto exchange in the United States, Coinbase provides the best regulated gateway for institutional traders. Therefore, this development may increase institutional visibility for Dogecoin and Shiba Inu in the US market while also providing traders with new ways to manage risk.

At the time of writing, Shiba Inu is trading at $0.000007523, down by 3% in the past 24 hours. Notably, the meme coin is currently trading at its lowest price point in over a year.

Dogecoin is also trading at its lowest price point in over a year. The king of meme coins is currently trading at $0.1256, down by 3.2% in the past 24 hours.

Featured image from Pixabay, chart from Tradingview.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.