Altcoin
Shiba Inu and 9 Altcoins Up 100x Positive
Shiba Inu is among the altcoins that will benefit from the recent approval of more Ethereum spot exchange-traded funds (ETFs), which has sent investors into a frenzy. This development has boosted confidence and is expected to trigger a substantial rally in the broader market.
Last week, the SEC greenlighted the trading of Ethereum ETFs. These funds, on their first day of trading, saw volumes of over $1 billion. According to CoinShares, eight of the nine approved funds, excluding Grayscale Ethereum Trust ETF (ETHE), have seen substantial inflows. To date, these eight ETFs have accumulated over $2.2 billion in net inflows. This massive inflow is fueling speculation that Ethereum’s price could see a significant increase. Given Ethereum’s pivotal role in the cryptocurrency market, a surge in ETH could trigger similar gains in various altcoins.
Ava Monaro, a well-known cryptocurrency enthusiast, has brought to light ten altcoins that it believes could increase between 1,000% (10x) and 10,000% (100x) due to Ethereum ETF approval. These altcoins include Shiba Inu (SHIB), Byte (BYTE), Ethereum Name Service (ENS), Render (RNDR), Baby DogeCoin (BabyDoge), Turbo (TURBO), Pepe (PEPE), Bonk (BONK), Toncoin (TON), and Ondo (ONDO). Monaro’s analysis suggests that substantial inflows into Ethereum ETFs could lead to significant price increases for these tokens.
Shiba Inu Potential Increase to $0.0001 – Territories $0.001
Shiba Inu, currently trading at $0.00001673, stands out among these altcoins. A 10x surge could send SHIB price to $0.00018403. Surprisingly, a 10,000% increase would catapult Shiba Inu Dog at $0.00168973. Experts, including those at Changelly, predict that SHIB could reach $0.0001 by December 2027. The more ambitious goal of $0.001 could be realized by 2040.
SHIB is currently trading at $0.00001673, reflecting a 2.24% decline over the past 24 hours. Similarly, the token has fallen 2.4% over the past week. While the forecasts are promising, they are not guarantees. Investors should proceed with caution and treat these projections with a healthy dose of skepticism.
The approval of the Ethereum ETF marks a significant milestone, potentially setting the stage for a bullish recovery in the cryptocurrency market. Investors will be watching closely to see if these predictions materialize.