Coinbase Launches DOGE and SHIB Futures Trading

Coinbase has launched regulated perpetual-style futures trading for Dogecoin and Shiba Inu, marking a significant expansion of meme coins into the U.S. derivatives market. The move, announced this week, allows retail and institutional traders to access these contracts around the clock through approved Futures Commission Merchants, positioning the tokens alongside established assets like Cardano and Chainlink.

The futures products went live on Coinbase Derivatives, with Shiba Inu featuring a 1,000x multiplier tied to its index. Officials at Coinbase described the rollout as an extension of their offerings to a broader range of altcoins, emphasizing compliance in a regulated environment. This development provides traders with tools for hedging and leverage beyond spot trading, potentially drawing more sophisticated participants to these assets.

Despite the institutional milestone, both cryptocurrencies have faced downward pressure. Dogecoin traded at approximately $0.126 on Thursday, down 3.3 percent in the past 24 hours and marking its lowest level in over a year. Shiba Inu hovered near $0.00000752, also down 3 percent and at a yearly low. The tokens have underperformed broader...