Shiba Inu: Can SHIB ETF Soon Become A Reality?

Juhi Mirza
shiba inu cloud burn shib
Source: Watcher Guru

With VanEck filing for a Solana ETF, the ETF hype is now ushering in a new wave of change within the cryptocurrency sector. The realm is presently undergoing dynamic changes, which can propel the industry to encounter a massive influx of funds and consumers. With Bitcoin, Ethereum, and now Solana ETFs in the mix, Shib community enthusiasts are vying for a one-of-a-kind Shiba Inu ETF, which, if approved, can be deemed a groundbreaking development to explore and interact with.

Also Read: Shiba Inu Burns Surge 101%: $0.01 Price Incoming For SHIB?

Shiba Inu ETF Campaign Welcomes Thousands of Signatures

Shiba Inu
Source – Coinpedia

Exchange-traded funds, or ETFs, are dubbed traditional trading instruments. When mixed with the world of cryptocurrency, a novel product is born that injects the essence of traditionalism into the unique crypto culture. ETFs mixed with the crypto realm have lately forged new milestones. Bitcoin ETFs have amassed billions of dollars in volume since their launch. With talks of Ethereum and Solana ETFs being initiated, the Shiba Inu community is also vying for a potential SHIB ETF to launch, the one that can take Shiba Inu to new price heights.

To help SHIB ETFs become a reality, the token’s robust community has already started to spearhead signature campaigns. One of the campaigns has already received 10,000 signatures, a number that keeps increasing with each passing day.

Shiba Inu ETF, if introduced soon, can have a euphoric effect on the price of the token. The price of SHIB has recently been touching new lows, primarily as Bitcoin tanked briefly to hover at a price range of $61k. The development temporarily halted the altcoin surge. SHIB is currently trading at $0.00001723, up 2% in the last 24 hours, awaiting a new price push to reclaim its fallen valuation.

Grayscale Deems Shiba Inu A Significant Crypto Asset

Investment behemoth Grayscale has dubbed Shiba Inu as one of the most valuable crypto assets to exist.

In a post shared on X, Grayscale shared an image outlining the leading cryptocurrencies by market cap. The list officially acknowledged SHIB as one of the significant cryptos to exist, leading SHIB to claim another milestone.

Shiba Inu ETF: Impact on Price

If Shiba Inu ETFs become a reality one day, the development could usher in a new price. The asset has long been yearning to claim its $0.01 price mark. Dubbed the coveted one-cent dream, SHIB would roughly need to surge by 57,776% to claim its $0.01 mark. With the ETF talks in the mix, this price mark can be achieved sooner than predicted timelines.

However, for now, Shiba Inu seems to have adopted a slow pricing pace. Per CoinCodex, it will be shedding 5% of its valuation by mid-July to trade at a price threshold of $0.00001659.

“The price of Shiba Inu may drop by -4.92% and reach $0.00001659 by July 28, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 47 (neutral). Shiba Inu recorded 11/30 (37%) green days with 15.12% price volatility over the last 30 days.”