Shiba Inu Update: Institutional Milestones and Bullish Signals Amid Market Volatility
As the cryptocurrency market experiences a wider downturn, Shiba Inu (SHIB) continues to show resilience with fresh developments signaling potential growth. Trading at approximately $0.00000992 (down 2.8% over the past week), SHIB briefly fell below its $0.000010 support level after a 6% daily dip. Despite the pullback, the token maintains a market capitalization of around $6 billion, ranking just outside the top 20 cryptocurrencies. Its strong community and expanding ecosystem continue to sustain optimism among investors.
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Institutional Recognition and Major Milestones
A key development this week was SHIB’s official inclusion in the FTSE Grayscale Crypto Sectors Framework, a classification initiative by Grayscale Investments and FTSE Russell. This inclusion places Shiba Inu among leading digital assets, potentially opening the door to greater institutional adoption and future spot ETF eligibility.
Shiba Inu’s marketing lead, Lucie, celebrated the milestone on X (formerly Twitter), calling it “good news for SHIB holders” and emphasizing its significance in increasing visibility within traditional finance circles.
Adding further institutional momentum, T. Rowe Price filed for a U.S. ETF that includes SHIB alongside Bitcoin, Ethereum, and Solana. This marks a major step forward for meme coins in institutional portfolios. Although no dedicated SHIB ETF has been approved yet, the move aligns with Grayscale’s growing interest in altcoin products, such as Dogecoin and XRP.
Bullish Technical Patterns and On-Chain Strength
On-chain data reveals continued accumulation by long-term holders. SHIB now has over 1.54 million wallet addresses, while exchange supply has fallen 62% year-to-date, indicating reduced selling pressure.
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From a technical standpoint, analysts identify bullish formations taking shape. Crypto trader Saraah highlighted a “super clean accumulation phase” and a falling wedge pattern, which often precedes an upward breakout. If momentum builds, key price targets include $0.0000105 (short-term), $0.000011 (mid-term), and $0.0000122 (longer-term)—a potential 26% upside from current levels.
Challenges and Network Updates
Despite progress, not all indicators are positive. Shibarium, SHIB’s Layer-2 scaling network, witnessed an 82% drop in daily transactions, now averaging just 2,980 per day. The network also endured a $4 million bridge exploit in September, though the team has since improved security and initiated refunds.
The Shiba Inu team is now preparing to launch Shib Alpha Layer, a privacy-focused Layer-3 upgrade designed to improve transaction speed, governance, and security. While some investors remain skeptical due to SHIB’s vast token supply, others remain optimistic about new utility and burn mechanisms driving future demand.
Market Context and Investor Outlook
SHIB’s 24-hour trading volume currently stands at $103 million, down 20% from the previous day. The Fear & Greed Index sits at 29, signaling cautious sentiment across the market. However, with Bitcoin stabilizing around $107,000, meme coins like SHIB may benefit from a renewed risk-on trend.
Price predictions for November suggest a modest rise to $0.00001139 (about 15% upside), while optimistic long-term forecasts eye $0.000038 by year-end, assuming adoption accelerates. Experts, however, warn that achieving $0.0001 would require substantial token burns or a dramatic expansion in ecosystem utility.
Conclusion
Despite market turbulence, Shiba Inu continues to demonstrate institutional progress, strong holder conviction, and potential for recovery. With multiple bullish indicators forming both on-chain and in technical analysis, SHIB could soon defy its historical November downtrend.
For the community known as the “Shib Army,” the coming weeks may prove whether this momentum translates into a sustained rally — reaffirming Shiba Inu’s status as one of the most enduring meme coins in the digital asset market.
Disclaimer: This is not financial advice. Cryptocurrency investments carry high risk. Always conduct your own research.
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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
