Top Meme Tokens to Invest In BitMEX Unveils MEMEMEXTUSDT a New Meme Coin Index
In a significant development for meme coin investments, BitMEX has introduced a new meme coin index, MEMEMEXTUSDT. This index serves as a “basket” of 10 leading meme coins, allowing investors to gain exposure to all these coins simultaneously, rather than individually. The index is margined in USDT and offers up to 25x leverage, with trading already underway.
This article explores the potential implications of this new index on the future of meme coin investments.
### MEMEMEXTUSDT: The S&P 500 of Crypto Meme Coins
BitMEX unveiled the meme basket index in a blog post, likening it to the S&P 500 of meme coins. The S&P 500 is a market cap-weighted index of the 500 top publicly traded companies in the US, allowing investors to invest in these companies collectively rather than separately.
So, what exactly are Basket Index Perpetual contracts? These are leveraged derivatives tied to a collection of underlying assets. Such investment tools enable traders to speculate on the overall performance of a specific segment within the crypto market. Investing in this index perp allows users to diversify their risks, which is crucial given the highly volatile nature of cryptocurrency.
The MEMEMEXTUSDT index includes the top 10 meme coins by market capitalization. The index calculates the weighted average price of these coins and will rebalance its components monthly to reflect market shifts, ensuring investors have access to the best-performing assets. Each contract is set at 0.0001 MEMEMEXT, with a minimum trade amount of 0.1 MEMEMEXT. The taker fee is 0.075%, and the maker fee is -0.015%.
To celebrate this launch, BitMEX announced a giveaway on Twitter, offering investors a chance to win up to 10,000 USDT with the meme coin basket index.
### Meme Basket ETFs: A Glimpse into the Future
99Bitcoins, a prominent crypto education YouTube channel, commented on the positive impact of this index on the meme coin market, suggesting that Meme Basket ETFs might soon become a reality. “As the crypto space evolves and gains more exposure, Meme Basket ETFs could emerge, providing massive exposure to meme coins similar to what’s available on BitMEX,” the YouTuber stated. This development is expected to legitimize the meme coin sector and boost its popularity.
In the video, 99Bitcoins also mentioned WienerAI, a crypto project gaining traction due to its successful presale and unique proposition. Described as “part dog, part sausage, and part AI trading bot,” WienerAI stands out with its AI-driven features, offering users advanced trading tools and MEV protection at zero fees.
### Shiba Shootout: Cowboys, Memes, and Gaming
Another meme coin making waves is Shiba Shootout, featuring a Shiba Inu in a cowboy outfit and set in the digital world of Shiba Gulch. This project combines cowboy-themed narratives with engaging gameplay elements, offering various rewards such as campfire stories, posse rewards, and lottery-style giveaways.
### Conclusion
With these new developments, BitMEX’s meme coin index and other innovative projects like WienerAI and Shiba Shootout are set to transform the meme coin investment landscape, providing investors with diverse opportunities and enhanced tools to navigate the volatile crypto market.
For more information, visit Shiba Shootout.