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Could Shiba Inu Skyrocket 138%? Here’s the Bullish Setup You Need to Know!
In the latest shiba news, crypto analyst Javon Marks has indicated that Shiba Inu (SHIB) has completed a bullish setup, potentially paving the way for a remarkable rally of approximately 138%. This projection is bolstered by recent developments, including new SEC regulations, which offer a more optimistic outlook for this leading meme coin.
Marks shared his insights in a recent post, suggesting that Shiba Inu’s current setup signals a forthcoming rally that could elevate the SHIB price to around $0.000032. He emphasized that the confirmation of a bullish signal is a strong indicator that this price movement is imminent. Previously, Marks had noted a divergence confirmation for SHIB, which fueled his prediction of a potential bullish reversal for the token.
Despite facing challenges earlier this year, with a year-to-date (YTD) loss of approximately 38%, Marks remains confident that SHIB could surge as high as $0.000081. This figure is particularly significant as it would bring the meme coin close to its all-time high (ATH).
Shiba Inu ETF: A Game Changer?
One of the most exciting catalysts for this potential rally could be the upcoming launch of a Shiba Inu ETF. Lucie, the marketing lead, highlighted that SHIB has regulated futures available on Coinbase. This development makes it eligible for ETF listings under the recently approved SEC standards. Lucie pointed out that Shiba Inu now joins the “ETF-watchlist club,” alongside other futures-backed cryptocurrencies.
Even before a dedicated Shiba Inu ETF is realized, Lucie suggested that the meme coin could be included in multi-asset-backed ETFs. The introduction of an ETF could inject much-needed liquidity into SHIB’s ecosystem, thereby contributing to a surge in its price.
New All-Time Highs on the Horizon?
Crypto analyst Shib Spain has also entered the conversation, predicting a new all-time high for Shiba Inu. He stated that SHIB is likely to rebound sharply from the support zone around $0.000013, setting the stage for a bullish trajectory towards new highs. Adding to this bullish sentiment, analyst Ragnar Shib noted that SHIB has gained 19% over the last 90 days, indicating renewed interest in this leading meme token.
Moreover, Shiba Inu remains the premier meme coin on the Ethereum blockchain, boasting a decentralized ecosystem that includes the Shibarium layer-2 network along with various DeFi and NFT products. This expansion is crucial for maintaining SHIB’s status and attracting new investors.
Ongoing Developments and Risks
Analyst Investing Haven emphasized that ongoing initiatives like auto burns and upgrades within the Shibarium ecosystem are helping to decrease the circulating supply of SHIB. However, he cautioned that risks still loom over the Shiba Inu ecosystem. Currently, SHIB is experiencing a tactical pullback, although the underlying bullish structure appears to be developing.
Investors are advised to closely monitor the burn rate and other developments within the Shiba Inu ecosystem to make informed decisions. As of this writing, Shiba Inu is trading at approximately $0.00001325, reflecting a slight decline over the past 24 hours, according to CoinMarketCap statistics.
In conclusion, with a favorable setup, potential ETF listings, and a growing ecosystem, Shiba Inu could be on the cusp of a significant price rally. For those interested in cryptocurrency investment, keep an eye on the evolving landscape of Shiba Inu and explore more crypto news here. If you’re looking to enter the market, consider checking out Binance for trading options.
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