TLDR
- Head of marketing, Lucie, emphasizes that Shiba Inu's extensive reach across over 110 exchanges and 212 trading pairs makes it ETF-ready.
- A massive leap in SHIB's burn rate has been recorded—ranging from 8,454% to a staggering 62,000%—resulting in over a billion tokens being taken out of circulation.
- Large-scale investors have ramped up their actions, with previously inactive players snapping up billions in SHIB tokens.
- The current SHIB price is sitting between $0.00001292 and $0.00001303, an improvement from its recent dip to $0.00001085.
- Projections for Shiba Inu's future price suggest outcomes ranging from consistent growth to a potential high near $0.000081, contingent on market conditions.
Recent data shows Shiba Inu's price stabilizing at approximately $0.00001303, climbing back from its recent dip to $0.00001085 earlier in the month.
Since last November's peak, SHIB has dropped around 62%, causing its market cap to shrink from $19 billion to approximately $7.5 billion.
Thanks to a host of new developments, interest in this dog-themed digital coin has been reignited. Lucie, from SHIB's executive marketing team, points out why it might be a solid ETF candidate.
Lucie notes SHIB's broad availability across more than 110 exchanges and 212 trading pairs, incorporating all notable crypto exchanges.
With listings on over 110 exchange platforms and 212 pairs, SHIB is practically omnipresent for easy access and trading.
The burning question remains: will the older generations really buy into this 'canine currency'?Is SHIB good for an ETF?
YES.SHIB transcends meme status; Lucie affirms it's a decentralized, community-centric entity built for the long haul, suggesting it could fit well into an ETF.
Also yes.
Amidst growing enthusiasm for crypto-based ETFs, speculation about SHIB's inclusion arises just as the US SEC acknowledges Grayscale's initiative for a Dogecoin ETF.— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) March 23, 2025
Canary Capital recently submitted an S-1 for SUI ETF approval, and buzz surrounds a potential BlackRock filing for a Dogecoin ETF.
Adding fuel to the bullish fires, SHIB’s burn rate underwent an incredible leap, climbing between 8,454% and 62,000% over recent days.
A hefty sum of 1 billion SHIB tokens was burnt in just 24 hours, with one wallet (0x55b8979a8d79f2802c79ff5a5083a0d7fdc182e3) alone burning a billion.
The process of burning tokens diminishes the supply permanently by transferring them to a dead-end wallet. Post an enormous burn, about 584.35 trillion coins remain in circulation.
An uptick in interest in SHIB derivatives has been notable, as open interest for futures shot up by 3.5% to hit $121.69 million, while derivative trading volumes surged 24% to reach $71.18 million.
Increased activity from 'whales' has captured attention. Major players are bolstering their SHIB reserves, with some long-dormant crypto whales snapping up large quantities.
Market Analysis
The Mean Dollar Invested Age (MDIA) has risen to 82, climbing from this year's prior low of 39. This change points to more investors holding for the long-term.
Technical indicators suggest upward momentum could be brewing; SHIB's development of a falling wedge pattern is often regarded as bullish.
Indicators like the Percentage Price Oscillator and Relative Strength Index are looking upwards, with some experts spotting a quadruple bottom at $0.00001235, possibly hinting at a price floor.
Forecasts for SHIB show a wide range; some estimates suggest it may end up around $0.000013 by the close of 2025, which would mean gradual growth.
On the more hopeful side, predictions swing from $0.0000167 to $0.0000741, with bolder forecasts even betting on a 500% jump to $0.000081, relying on continued token burns and favorable market vibes.
There's even an analyst daring enough to claim that SHIB might hit as high as $0.01 someday, which would be an astronomical 83,000% increase, fueled by its deflationary habitual traits, Shibarium's utility, and worldwide alliances.
However, SHIB’s price recovery is not without obstacles; the volatile crypto scene and the underpinning regulations could affect overall investor confidence.
The rising competition from other meme coins and varied cryptos could also pull capital away from SHIB. SHIB While promising, the Shibarium ecosystem is still in its nascent stages, needing time and development to fully mature.
Most analysts foresee SHIB could test resistance at $0.00001855, offering a 45% uplift over current prices, but a dip beneath $0.00001085 could disrupt this positivity.
Maisie carries a wealth of experience in crypto and finance journalism, with credits on Moneycheck.com, level-up-casino-app.com, Computing.net and currently serves as Editor in Chief at Blockfresh.com. from SHIB. Compound (COMP) Price: A foundation announcement triggers a 6% decline as traders absorb the news.
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