TL;DR

• SHIB’s Recent Performance: Shiba Inu (SHIB) has seen a gradual increase in its price over the past two months, with some analysts predicting a potential rally for the memecoin in the future.
• Influence of a Bitcoin ETF on SHIB: There is speculation that the launch of a spot Bitcoin ETF in the USA could positively impact SHIB and other cryptocurrencies, as it might attract significant investment into the market.
• Other Factors Affecting SHIB’s Value: The article also discusses SHIB’s burning mechanism and the development of its layer-2 blockchain solution, Shibarium, which could influence its market value.

SHIB to Explode Following This Potential Event?

Shiba Inu (SHIB) – the second-biggest memecoin by market capitalization and an asset that continues to capture much of the investors’ attention – has experienced a gradual price appreciation in the past two months, rising by approximately 60%.

Multiple crypto analysts believe this uptrend is just the beginning of an explosive rally that could take the token to new peaks. One person supporting that thesis is Jalaleddin Hatefi – founder and CEO of the memecoin project PawZone. 

In his view, SHIB and PAW (another dog-themed digital asset) could benefit from the potential launch of a spot Bitcoin ETF in the USA, an event described by the executive as “one of the biggest catalysts of all time.”

Hatefi thinks the possible introduction of such a product in the USA would not lead to a “buy the rumor, sell the news” scenario but allow a “ton of big money” to flood the cryptocurrency market. 

Go to Source to See Full Article
Author: Dimitar Dzhondzhorov

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