During this year's bullish market cycle, meme coins like SHIB, FLOKI, and BONK have stood out, providing investors with impressive returns. These tokens have captured the attention of crypto enthusiasts with their unique developments, making them attractive options for those looking to buy and hold in the current market environment.

Coinbase Backing for SHIB, FLOKI, & BONK

Coinbase, a well-known cryptocurrency exchange, has recently introduced perpetual futures contracts for Shiba Inu (SHIB), FLOKI, and BONK, adding credibility to the investment potential of these meme coins. The introduction of these contracts is expected to bring a significant influx of capital into the ecosystem of these coins, setting the stage for positive price movements in the future.

Starting from May 30, users will have the opportunity to engage in trading 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP.

Increasing Whale Accumulations

Reports from CoinGape Media have highlighted a growing trend of whale accumulations in Shiba Inu and FLOKI, indicating rising confidence among large investors in the future price prospects of these meme coins. On-chain data reveals substantial accumulations during this year's bullish cycle, suggesting the potential for further price surges in the days ahead.

Positive Derivatives Data Analysis

Coinglass data presents an optimistic outlook for SHIB, FLOKI, and BONK meme tokens. Analysis of open interest charts shows a significant surge in SHIB Futures OI since February, with BONK and FLOKI OI also reaching record highs since the beginning of this year's bull run.

Impressive Price Performances of SHIB, FLOKI, and BONK

Data from CoinMarketCap highlights the remarkable price rallies of these meme-based assets in the current year. Despite the absence of a post-BTC halving price surge, Shiba Inu has seen gains of 192.80%, FLOKI surged by 622%, and BONK skyrocketed by an impressive 882% over the past year.

Meme Coins in the Limelight

Meme coins have garnered significant attention in the crypto space, offering substantial returns to investors. A recent report by CoinGape Media emphasizes how meme coins have overshadowed AI and big data coins, despite the growing adoption of AI technology worldwide. This continued interest adds a positive momentum to these meme-based investment opportunities.