- Notcoin (NOT) and Book of Meme (BOME) experience a substantial price rally due to Coinbase support.
- This support announcement has boosted investor confidence and trading volume for these tokens.
- “Coinbase’s new perpetual listings for NOT and BOME have sparked significant market movements,” a leading crypto analyst commented.
A deep dive into the recent surge in NOT and BOME token prices, driven by Coinbase’s support and its consequent impact on the crypto market.
Coinbase Heralds NOT & BOME Perpetual Futures
Coinbase, a prominent cryptocurrency exchange, has revealed in a recent post on X (formerly Twitter) that it will be including support for Notcoin (NOT) and Book of Meme (BOME) perpetual futures on its international and advanced trading platforms. The listings will be effective from June 20 at 09:30 AM UTC, allowing traders to engage in the BOME-PERP and NOT-PERP markets. This strategic move highlights Coinbase’s commitment to expanding its trading offerings and enhancing market exposure for traders.
Market Reaction and Historical Context
The inclusion of NOT and BOME in Coinbase’s listing has led to a marked increase in their respective prices, mimicking the historical patterns seen with other meme coins such as Shiba Inu, Floki, and BONK following their perpetual listings. Market analysts and crypto enthusiasts alike are anticipating a continued uptrend for these tokens, buoyed by Coinbase’s backing.
Detailed Price Rally Analysis
As of the last 24 hours, Notcoin (NOT) has seen a price jump of 19%, trading at $0.02048 with the day’s range fluctuating between $0.01682 and $0.02146. In parallel, Book of Meme (BOME) experienced a 13% price surge, currently valued at $0.01089, with its price varying from $0.009429 to $0.0113 throughout the day.
Market Data Insights
According to Coinglass, Notcoin’s Futures Open Interest soared by 8% to $250.36 million, along with a 12.60% rise in derivatives trading volume reaching $3.68 billion. Similarly, BOME’s Futures OI increased by 14.69% to $92.90 million, with derivatives trading volume skyrocketing by 161.44% to $608.30 million. This data underscores a surge in investor interest and activity, painting an optimistic market trend picture at the moment.
Conclusion
The recent price rallies in Notcoin (NOT) and Book of Meme (BOME), fueled by Coinbase’s support, signal a bullish phase for these tokens. The listings are expected to boost market confidence and trading activity further, suggesting a promising outlook for crypto investors. As market dynamics evolve, investors will likely keep a close watch on these tokens, anticipating continued positive trends.
