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Shiba Inu And Dogecoin Futures Soar As Bitcoin Uptick Fuels Meme Coin Mania

Meme coins Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) are surging in futures trading activity, propelled by the recent upswing in Bitcoin’s (CRYPTO: BTC) value.

What Happened: According to CoinDesk, the onset of November has seen a significant increase in open interest for SHIB and DOGE futures. SHIB’s open interest escalated by 23% to $61.74 million, leading the charge among major cryptocurrencies. Concurrently, DOGE’s open interest ascended by 14.6%, reaching $328 million.

Altcoins such as Polygon (CRYPTO: MATIC), Ethereum (CRYPTO: ETH), Ethereum Classic (CRYPTO: ETC), and Litecoin (CRYPTO: LTC) also registered an increase in open interest by 6% to 7%. In contrast, Bitcoin’s open interest ...

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