- The price of SATS skyrockets this week.
- OKX will open SATS trading soon.
- Rumors of a SATS Coinbase listing swirl on social media.
The past week has seen a surge in memecoin prices, with BONK’s price skyrocketing following its listing on Coinbase and Binance. SATS, another memecoin, has also surged recently after OKX announced the token’s listing on its platform. Still, some investors believe that further price rises are due as rumors of a Coinbase listing continue circulating.
SATS on a Tear
OKX announced listing SATS for spot trading in a notice dated December 15. Details of the notice show deposits for SATS opened on December 15, with spot trading scheduled to open on December 18. The exchange confirmed that withdrawals will go live on December 19. A risk warning accompanying the notice detailed the speculative and volatile nature of digital asset trading.
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The price of SATS began taking off weeks before the OKX announcement, opening December at $0.000000157463 but began posting a near vertical ascent around December 11, surging over 470% to record a new all-time high of $0.000000905250 on December 15. This price frenzy serves as a reminder of exchange listings’ influence on cryptocurrency token prices.
Although SATS investors are undoubtedly pleased about their gains, rumors exist that the token may be listed on Coinbase soon. If these rumors are true, it could lead to further price increases.
Coinbase Listing Incoming?
Social media is awash with chatter urging Coinbase to list the SATS token. The SATS team has fanned the flames of expectation by recently tweeting a picture of the Coinbase logo and a message that hints at an imminent Coinbase listing.
While Coinbase recently listed Bonk, it’s important to note that the company has not announced the listing of SATS or even stated its position on the matter.
On the Flipside
- SATS is a memecoin created by an anonymous team, stoking concerns about the project’s long-term sustainability.
- Some Bitcoin purists criticize BRC-20 Inscriptions as network spam.
- There is a movement intent on “deleting” BRC-20 from the Bitcoin chain, but whether that comes to pass is debatable.
Why This Matters
The soaring prices of certain memecoins indicate optimistic market sentiment. This is a positive sign for the rest of the sector, as it suggests that traders are willing to take risks to pursue rapid gains. Nonetheless, memecoin investing remains a high-risk investment strategy.
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Read about the impact of BRC-20 tokens on the Bitcoin network here:
Bitcoin Fees Soar as Ordinals Transactions Clog the Network
Find out more on the resurgence of AI deepfake scams here:
AI Deepfakes: Hoskinson Warns of Impending Threat
