A renowned SHIB community executive echoed a huge market buzz this Monday by highlighting the odds of a Shiba Inu ETF approval ahead. Notably, marketing lead Lucie revealed key factors that make the dog-themed meme coin a perfect fit for an ETF product. In the wake of recent broader global pro-crypto shifts, traders and investors anticipate a SHIB price rally to kick off, given this feat actually happens. Simultaneously, a phenomenal +8000% surge in the dog-themed coin’s burn rate intraday solidified bullish market sentiments about price.
Is Shiba Inu ETF Filing Possible? Lucie’s Post Sparks Optimism
According to a recent X post by Lucie, the dog-themed meme coin shows strong characteristics that make it a good pick for a Shiba Inu ETF. Lucie reveals that the meme coin is available on over 110 exchanges with 212 trading pairs, including all the top crypto trading platforms.
In the wake of this aspect, the marketing lead calls the crypto an absolute pick for an ETF product due to its global accessibility. “Because SHIB isn’t just a meme—it’s decentralized, community-driven, and built to last,” she concluded.
Primarily, these statements gained significant traction across the broader market in sync with the recent optimistic waves generated by crypto-backed ETF filings. CoinGape reported that Canary Capital recently filed an S-1 for SUI ETF approval with the U.S. SEC.
Also, the odds of a DOGE ETF approval soared as the US SEC acknowledged Grayscale’s filing for it previously. The speculations of a Dogecoin ETF filing by BlackRock also remain on the rise amid broader crypto-ETF filings. Altogether, these developments inject significant optimism towards the odds of a Shiba Inu ETF filing ahead.
SHIB Burn Rate Surge Adds Market Optimism
A staggering 8454% surge in the SHIB burn rate this Monday added to investors’ bullishness on price. Slightly over 1 billion coins were burnt in the past 24 hours, dealing a massive hit to the meme coin’s circulating supply. In turn, bullish investor sentiments about price prevail, abiding by the law of supply and demand.
For context, the burn mechanism permanently reduces the meme coin’s supply by sending tokens to a null address. As a result, market sentiments about future price action take a paradigm bullish shift.
The total circulating supply after the massive blow was evaluated as 584.35 trillion coins. When coupled with the Shiba Inu ETF filing speculations, these developments signal that a price rally looms.
SHIB Price Overview Today
As of press time, SHIB price witnessed a 1% increase in value, closing in at $0.00001303. The coin bottomed and peaked at $0.0000128 and $0.00001309 in the past 24 hours. Notably, the rising action falls in line with the recent burn rate surge and soaring optimism for an ETF filing ahead.
Simultaneously, Coinglass data underscored rising market interest in the asset. Shiba Inu futures OI was up by 3.5% to $121.69 million. Also, the derivatives volume spiked by 24% to $71.18 million. Overall, the current sentiment for the meme coins appears to be bullish amid recent advancements, such as a burn rate surge and Shiba Inu ETF odds on the rise.
The post Shiba Inu ETF Pitched By Executive, Will SHIB Price Rally Begin? appeared first on CoinGape.
