Shiba Inu (SHIB) ETF Campaign

The Shiba Inu (SHIB) community team is actively campaigning to advocate for SHIB as a candidate for exchange-traded fund (ETF) inclusion.

Despite its significant rise in the cryptocurrency market, Shiba Inu currently ranks 17th by market capitalization, and no asset manager in the U.S. has filed for an ETF based on SHIB.

To change this, the Shiba Inu team, led by marketing head Lucie, has launched a campaign to showcase SHIB’s potential as a viable financial product. Lucie emphasized SHIB’s accessibility on over 110 crypto exchanges, boasting 212 trading pairs with popular combinations like SHIB/USDT and SHIB/BTC. This wide availability ensures ease of access for investors—crucial for ETF eligibility. Additionally, the liquidity generated by these trading options supports SHIB’s argument as a suitable ETF asset.

Why Should Shiba Inu Be More Than a Meme Coin?

Lucie pointed out SHIB’s evolution from a meme coin to a flourishing, decentralized project. Over the years, SHIB has matured, aiming for long-term relevance in the market—a pitch directed at reassuring traditional investors wary of short-lived assets.

Resistance to Price Manipulation

Addressing concerns of price manipulation, Lucie argued that substantial capital would be needed to significantly impact SHIB’s value. Even a billionaire attempting to manipulate the market would have a similar effect on major assets like Bitcoin. SHIB’s decentralized structure enhances its resistance to manipulation, fostering stability for new investors. Furthermore, SHIB’s ability to recover quickly from downturns further supports its position as a resilient asset for ETFs.

SHIB’s Recent Market Performance

Recent data shows SHIB’s price has increased by 1.38% over the last 24 hours, reaching $0.00001313, alongside a significant trading volume surge of 31.09%, indicating rising investor interest.

Source: CoinMarketCap

Technical indicators portray a positive outlook for SHIB’s price trajectory. The MACD indicator shows a bullish trend, with the MACD line above the signal line, suggesting continued upward momentum. Meanwhile, the RSI stands at 48.38, indicating balanced market conditions without signs of overbuying or selling.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Coin Edition is not responsible for any losses incurred from the utilization of its content or services. Caution is advised before taking action related to the company.