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Jakarta, Pintu News – A crypto expert predicts that the price of Shiba Inu (SHIB) will surge up to 138% in this market cycle. This prediction comes in the wake of regulatory developments regarding SHIB futures contracts, potentially paving the way for spot ETFs.
In a recent post on the X platform, crypto expert Javon Marks revealed that Shiba Inu is poised to experience a significant price spike. He highlighted that SHIB’s movement pattern shows a potential upside of around 138%, which could potentially push the token’s price back to the $0.000032 level.
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From the chart analysis, it can be seen that the price of SHIB is consolidating in a symmetrical triangle pattern on a two-day time frame. This is a technical pattern that is often a sign of a major breakout.
The price movement range between lower highs and higher lows is narrowing, indicating pressure continues to build. The direction of the breakout arrow indicates a potential upward push, with SHIB’s current price hovering around $0.00001341.
In addition, the momentum indicator also reinforces the bullish sentiment. The token just closed above the pivot point ($0.00001333) and the 200-day exponential moving average ($0.0000139). The MACD histogram turned positive, and the RSI indicator has also not entered the overbought territory.
Token burn activity also supported market sentiment. On September 18, Shiba Inu’s burn rate jumped 438%, reducing supply, although the total number of tokens burned was still relatively small compared to previous burn cycles.
Analysts mentioned that if SHIB is able to close above $0.00001412 on strong volume, this could trigger algorithmic buying. This could potentially accelerate the rally as projected by Javon Marks.
Shiba Inu could potentially have its first ETF soon, thanks to recent regulatory changes. One of SHIB’s core team members, Lucie, shared in a post that the SEC’s latest standards for ETF listing could pave the way for such a launch.
Coinbase recently launched SHIB futures through a product called “1k Shib Index”. This move opens up the opportunity for Shiba Inu to be considered in a spot-based ETF.
A new rule from the SEC states that cryptocurrencies with regulated futures trading are eligible for expedited review, even within just 75 days.
With this, SHIB is now on what many are calling an “ETF watchlist” – a list of assets that could potentially be looked at for ETFs. The meme coin joins other assets that already have futures, such as XRP (XRP), Cardano (ADA), and Dogecoin (DOGE).
While a dedicated Shiba Inu ETF is still speculative, experts think that the token could be included in a multi-asset crypt ETF, especially after regulators started to loosen the focus from just BTC and ETH.
This futures listing could be a big boost for the SHIB community, which is still recovering from the recent Shibarium exploitation incident.
Lucie has also previously emphasized that SHIB is available on more than 110 crypto exchanges with over 200 trading pairs, making it one of the most accessible cryptos globally. According to her, this wide reach strengthens the argument that SHIB deserves its own ETF in the future.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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