BitMEX Expands Support For Dogecoin, Shiba Inu, Pepe Coin & Others; Here’s How

BitMEX Introduces MEMEMEXTUSDT Basket Index Perpetual Swap

BitMEX has unveiled a new offering: the MEMEMEXTUSDT Basket Index perpetual swap contract. Designed to provide traders with exposure to the top 10 meme coins, this contract incorporates Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE), among others.

Leveraging the volatility of meme coins, the contract offers up to 25x leverage, allowing traders to speculate on the overall performance of the sector. Similar to the S&P 500 in traditional finance, the MEMEMEXTUSDT aims to track the collective performance of meme coins.

The MEMEMEXT Basket Index, denoted as .BMEMEMEXT, serves as the core of this product. It comprises the top 10 meme coins based on market capitalization, periodically adjusting to maintain this ranking. The index uses a weighted average price of the included coins, with multipliers updated on the last Friday of each month.

Key Features of the Basket Memecoin Index:

• Linear perpetual swap
• Margined in USDT
• No need to hold individual meme coins
• Symbol: MEMEMEXTUSDT
• Contract Size: 0.0001 MEMEMEXT
• Lot Size: 1000
• Maximum Leverage: 25x
• Maker Fees: -0.015%
• Taker Fees: 0.075%

The MEMEMEXTUSDT contract offers convenient access to the meme coin market, enabling traders to take positions without holding individual assets. It caters to those seeking exposure to the meme coin sector, providing up to 25 times leverage for amplified returns and potential risks.

As the popularity of meme coins continues to soar, with DOGE and SHIB commanding massive followings and experiencing significant price movements, the MEMEMEXT Basket Index is poised to attract traders seeking exposure to this dynamic market segment.