How High Could Shiba Inu Price Go If A SHIB ETF Is Approved?

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As a seasoned researcher with a keen interest in the ever-evolving world of cryptocurrencies, I must admit that the potential impact of a Shiba Inu ETF cannot be underestimated. Having witnessed the meteoric rise of Bitcoin and Ethereum ETFs, I can’t help but feel a sense of anticipation at the prospect of SHIB joining their ranks.

Lately, Shiba Inu‘s price has been on a roll, increasing by approximately 33.5% over the past month. There are signs that SHIB may surge further due to its breakout from a bullish reversal pattern. The crypto market is abuzz with speculation about a potential Shiba Inu Exchange-Traded Fund (ETF), which could drive the price even higher. If the ETF gets approved, how high might the Shiba Inu price climb?

How High Could Shiba Inu Price Climb with a SHIB ETF Approval?

It’s no secret that Shiba Inu is an exceptional digital token in the cryptocurrency world, demonstrating that even the seemingly impossible can become reality. Consequently, it’s not too much of a stretch to consider the possibility of a Shiba Inu ETF. With whispers of a SHIB ETF circulating on Wall Street, the anticipation for one among crypto enthusiasts has skyrocketed, effectively bursting the ceiling off any doubts or limitations.

If a Shiba Inu Exchange Traded Fund (ETF) is given the green light, it’s likely that the price of SHIB will experience a substantial rise. To get a better grasp of this scenario, let’s look at how Bitcoin and Ethereum ETFs have performed so far. The spot Bitcoin ETF, for instance, has amassed approximately $18.72 billion since January 10th. This accumulation represents an average of about $2.34 billion in positive net monthly inflows since its launch. If this trend continues, the total inflows for the Bitcoin ETF could reach around $25 billion by December.

If the Shiba Inu ETF receives approval, is launched, and manages to attract the same investment flows as Bitcoin ETFs, this could significantly increase Shiba Inu’s market capitalization by approximately $250 billion. Given Bank of America’s multiplier of 1:10, such a surge would result from the influx of funds.

Reaching a total market capitalization of approximately $260.3 billion would position Shiba Inu just below Ethereum on the CoinGecko rankings, placing it in the number 3 spot. If SHIB‘s burn rate were to cease, this market cap would translate to a price of around $0.0004414 per token, representing a staggering 2400% increase from its current value.

Can SHIB Price Hit $0.00044?

Right now, the Shibu Inu (SHIB) coin’s price appears to be surging beyond a downward trendline, suggesting a possible turnaround from the ongoing downtrend. It looks like the price could climb up, indicating a shift towards a positive trend or a bullish market scenario.

According to projected gains from the channel breakout, Shiba Inu (SHIB) might climb up to around $0.00002200 – $0.00002300, encountering its initial significant resistance level there. This potential rise represents an increase of approximately 125% from the current market price.

After that, SHIB may attempt to reach its previous record peak of $0.00008854, representing a potential surge of 284% over the current significant resistance level.

As an analyst, I’m projecting that due to the impressive milestones Shiba Inu has achieved since its launch, it could potentially reach a price point in the future. However, for Shiba Inu to soar to $0.00044, we would need a substantial and sustained increase in trading volume. Fingers crossed, an ETF might be the catalyst that helps us get there.

At present, the SHIB price is struggling to hold above its downward trend, but if sellers manage to push the price below 0.000014, it could undermine the current optimistic outlook. In such a scenario, the Shiba Inu price might find support at around 0.000011 and 0.0000083 levels.

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2024-10-09 08:56