To help make the SHIB ETF a reality, the token’s strong community has started to lead the way campaigns signature . One of the campaign has received 10,000 signatures, a number that continues to grow by the day.
The Shiba Inu ETF, if introduced soon, could create a euphoric impact on the price of the token. The price of SHIB recently touched a new low, mainly due to Bitcoin’s short-term price drop to hover around the $61k price level. The development has temporarily halted the rise of altcoins. SHIB is currently trading at $0.00001723, up 2% in the past 24 hours, awaiting a new push to regain its reduced valuation.
Grayscale Considers Shiba Inu as Important Crypto Asset
Investment giant Grayscale has named the Shiba Inu one of the most valuable crypto assets in existence.
In a post shared on X, Grayscale shared an image outlining the top cryptocurrencies by market capitalization. This listing officially acknowledges SHIB as one of the key cryptocurrencies in existence, making SHIB achieve another important milestone.
Shiba Inu ETF: Price Impact
If a Shiba Inu ETF becomes a reality one day, this development could usher in a new price range. The asset has long aspired to reach a price of $0.01. Dubbed the coveted penny dream, SHIB would need to increase approximately 57,776% to reach a price of $0.01. With ETF negotiations, this price could be achieved sooner than the expected timeline.
However, for now, the Shiba Inu appears to have adopted a slow pace of valuation. According to CoinCodex, its value will drop 5% by mid-July to trade at a price threshold of $0.00001659.
“Shiba Inu price could fall -4.92% and reach $0.00001659 by July 28, 2024. According to our technical indicators, the current sentiment is bearish, while the Fear Index Fear & Greed is showing 47 (neutral). Shiba Inu recorded 11/30 (37%) with a price movement of 15.12% over the past 30 days.”
See also: Grayscale Classifies Shiba Inu Among Valuable Cryptocurrencies
