Shiba Inu Price Prediction: 4 Reasons Why a SHIB ETF Could Be Imminent
The Shiba Inu price has held firm today, sticking to $0.00001663 and posting a slight o.4% gain in the past hour.
SHIB has also risen by 8% in a week, and while it is down by 25% in a month, it also holds onto a healthy 123% increase in a year.
Its move in the past hour raises hopes for an incoming rally, with some prominent Shiba Inu holders and influencers now even beginning to weigh the pros and cons of a SHIB ETF.
If such a development were to occur, this would undoubtedly send the Shiba Inu price racing, although it’s likely to rebound strongly in the near future regardless.
SHIB’s chart looks very bullish at the moment, with the pennant formation of its resistance (red) and support (green) levels now suggesting that a big breakout could be about to happen.
Other positive signs include the fact that its RSI (purple) has jumped from under 50 this morning to just above 60, as buying pressure mounts.
That said, the meme token’s trading volume has actually declined today, from $600 million at the start of the week to around $200 million at the time of writing.
This would indicate declining interest in the token, yet the lower volume may be a bullish sign insofar as SHIB’s other indicators point to a big move.
And given that the coin has suffered in recent weeks, it’s certainly overdue a nice rebound, at least as far as its technicals are concerned.
In fact, some would argue that more fundamental factors may also lead to big Shiba Inu price moves in the not-too distant future.
Why would a $SHIB ETF be great, and why not?
1.Why a SHIB ETF Would Be Great:
•Accessibility: A SHIB ETF would make it easier for traditional investors to gain exposure to Shiba Inu without needing to navigate cryptocurrency exchanges.
•Regulation and
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