Shytoshi Kusama Teases Shiba Inu ETF Following Ethereum’s Approval: Community Reacts!
Key Points:
– Following the approval of Ethereum ETFs by the SEC, the lead developer of Shiba Inu (SHIB), Shytoshi Kusama, suggested the possibility of a SHIB ETF filing.
– Recent developments within the Shiba Inu ecosystem and growing institutional interest indicate potential support for a SHIB ETF.
– The SHIB Army, the community of SHIB supporters, has initiated a petition to Grayscale for a SHIB ETF, demonstrating their belief in SHIB’s potential.
– Coinbase’s inclusion of SHIB in its 50th perpetual futures listing has further increased SHIB’s visibility and could lay the foundation for potential SHIB exchange-traded fund trusts.
– With rising institutional interest, positive price dynamics, and community-driven initiatives, the future looks promising for SHIB, with opportunities for expansion and institutional adoption on the horizon.
Story:
Shiba Inu (SHIB) is generating excitement in the wake of the SEC’s approval of the first Ethereum ETFs. Shytoshi Kusama, the enigmatic lead developer of SHIB, recently dropped a cryptic tweet hinting at the possibility of regulatory progress for SHIB. This tweet not only congratulated Ethereum on its ETF approval but also implied that SHIB could follow a similar path.
In addition to Kusama’s suggestive tweet, there are two significant factors that indicate the potential for a SHIB ETF filing. First, the SHIB community is experiencing a surge of enthusiasm due to recent accomplishments such as the completion of Shibarium’s layer-2 scalability solution and ongoing developments in ShibaSwap, the community’s decentralized crypto exchange. These achievements highlight the progress within the SHIB ecosystem and generate excitement among supporters.
Second, there has been a noticeable increase in whale transactions and bullish activity in SHIB, suggesting growing institutional interest. The Whale Transaction Count index, which tracks significant transactions, has seen spikes amid an overall upward trend, indicating accumulation by institutional investors. This trend further supports the bullish outlook for SHIB and suggests potential support for a future SHIB ETF.
Despite facing resistance at key levels, SHIB shows signs of a potential bullish rally. Chart analysis reveals a pattern of lower lows and lower highs since its peak in March. However, the breakout above the declining trend line on May 20 indicates an increase in buying pressure. Investors may anticipate SHIB consolidating above $0.0000253 and targeting the $0.0000315 resistance level. In an optimistic scenario, a retest of $0.0000355 could be possible.
The visibility of SHIB has been further enhanced by its inclusion in Coinbase’s 50th perpetual futures listing. Coinbase, a prominent cryptocurrency exchange platform, welcomed SHIB alongside other tokens, which has increased its liquidity and laid a solid foundation for potential SHIB exchange-traded fund trusts.
The SHIB Army, the passionate community of SHIB supporters, has launched a petition to Grayscale for a SHIB ETF. This demonstrates their unwavering belief in the potential of SHIB and their commitment to driving its adoption.
With growing institutional interest, positive price dynamics, community-driven initiatives, and increased visibility, the future looks promising for SHIB. Expansion opportunities and institutional adoption appear to be on the horizon, and it remains to be seen if the efforts of the SHIB Army will lead to the establishment of a SHIB ETF.