Will Shiba Inu Reach $0.01 If SHIB ETF is Approved?
Shiba Inu has long been dubbed an extraordinary meme token for many reasons. For instance, SHIB boasts one of the strongest community bases when it comes to dedicated loyalty foundations, acing the game on the spot. What makes the ecosystem further interesting is its long spree of robust product offerings that the SHIB devs are currently working towards to expand to new realms.
With the ETH ETF approval link in the mix, the SHIB community is now banking on a Shiba Inu ETF approval, which can largely open up new avenues for the token to enjoy and bask in.
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Is Shiba Inu Closing In On Its One-Cent Dream?
The Shiba Inu token is unlike its bullish contemporaries. The meme coin boasts a rather adaptive price pace, frequently nourished through consistent burn mechanisms. The token is now expanding its base by offering robust products and elements for users to tinker with. The Shib ecosystem is working on several novel elements to lure new users, including launching NFT integration and Shiba art, the Shiba Swap analytics platform, and ShibaEternityP2E, which can significantly bolster the token’s price prospects.
The new SHIB ETF integration is joining the developmental queue, and it is now being discussed on leading social media platforms.
Several crypto analysts and SHIB enthusiasts are now looking forward to exploring the Shiba Inu ETF idea, leveraging the current ETF wave to circulate petitions that may play an elemental role in obtaining SHIB ETF approval.
Day 59 asking #SHIBARMY to sign proposal for an #Shiba Inu ( $SHIB ) ETF by Grayscale Investments
https://t.co/w79f6xSDFt
— $SHIB BPP (@ShibBPP) June 9, 2024
The Ethereum ETF approval has been labeled “revolutionary” within cryptocurrency. With Ethereum finally getting a green pass, the move has fueled the community’s hopes, where each crypto vertical is banking on their particular coins to join the growing ETF narrative.
If the Shiba Inu ETF talks gain prominence in the near future, the development could signal a bullish price hike for SHIB, helping it finally claim its long-coveted one-cent dream.
Shiba Inu Price Prospects: Is June Favoring the Meme Token’s Price Hike?
For the month of June, SHIB certainly projects a favorable price stance. The token is gearing up to ascend a bit closer to its ambitious one-cent dream. Per Changelly, the token may spike by 151% to trade at an all-time high of $0.0000579.
“Based on the price fluctuations of Shiba Inu at the beginning of 2024. Crypto experts expect the average SHIB rate of $0.0000405 in June 2024. Its minimum and maximum prices can be expected at $0.0000232 and $0.0000579, respectively.”
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CoinCodex, another crypto platform, echoes a similar prediction for SHIB. Per CC, the OG meme token can surge nearly 200% by the end of 2024.
“According to our current Shiba Inu price prediction. The price of Shiba Inu may rise by 227.23% and reach $0.00007651 by July 10, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 72 (greed). Shiba Inu recorded 13/30 (43%) green days with 4.50% price volatility over the last 30 days.”