Shiba Inu Forecast: $SHIB Target If Spot Ethereum ETH Approved

The Shiba Inu (SHIB) coin, one of the top meme coins in terms of market cap, experienced a 5.75% surge in the last 24 hours amidst speculation about the potential approval of the first spot Ethereum ETF. This surge pushed SHIB’s value above the $0.000025 mark. Although SHIB’s value has decreased by 6% in the past 30 days, its recent 5% rally over two weeks has raised questions about its future price movements.

Shiba Inu Price History

Introduced in August 2020 as an Ethereum-based alternative to Dogecoin, Shiba Inu has gained a considerable following and currently holds a market capitalization exceeding $14.9 billion, ranking it among the top 12 cryptocurrencies in the market.

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SHIB Price Analyst Forecast

The global crypto market has seen an 8% increase in the last 24 hours due to heightened speculation surrounding the potential approval of the Ethereum ETF by the United States Securities and Exchange Commission. Well-known crypto analysts are optimistic that this approval could lead to a positive reaction in the crypto industry, potentially affecting the price of Shiba Inu and other cryptocurrencies.

Despite recent choppy price movements, Shiba Inu’s relative strength index has risen above 49, even after a significant amount of SHIB was transferred to a dead wallet by a whale. This market activity has reportedly increased Shiba Inu’s coin burn rate by over 500%, fueling optimism in the token’s medium and long-term momentum.

According to CoinCodex, a respected market analysis platform, SHIB is anticipated to surge by 231% to reach $0.00008566 by June 20, 2024. Additionally, a popular crypto Twitter account Krillin posted that Shiba Inu and Dogecoin are ‘bullish’ as long as the 100 MA holds on the daily time frame.

Conversely, highly regarded experts in the crypto space, blockgraze are more optimistic about a new memecoin, which is different from DOGE and SHIB

WienerAI – The Ultimate Meme Coin Alternative To Shiba Inu?

In terms of new meme coins, WienerAI (WAI) has emerged as a potential alternative to Shiba Inu. WienerAI is a new meme coin ICO that has gained attention for its unique value proposition and vibrant community. The project aims to launch an AI-powered trading bot that can assist traders in detecting high-potential opportunities in the volatile market.

Read Also: The Shiba Inu Army has Expanded by 100,000, Setting a New Record

WienerAI is currently available on presale for a discounted rate of $0.000709, and has recorded close to $2.5 million in early fundraising, positioning it as one of the notable Shiba Inu alternatives yet to hit exchanges.

Buy WienerAI

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Michael Onche: Crypto aficionado and seasoned analyst. With a keen eye for market trends and a passion for blockchain technology, he deciphers the intricacies of cryptocurrency with precision. Michael's expertise and insightful content make him a trusted guide for navigating the dynamic world of digital assets.