Shiba Inu Joins The Ranks Of Dogecoin, XRP On Coinbase ETF Watchlist – The Next Big Thing?
Shiba Inu is now coming into the identical area as among the largest cryptocurrencies on the subject of discussing exchange-traded funds (ETFs). The SHIB coin is beginning to acquire discover because it appears on Coinbase’s radar. Coinbase already presents a futures product for Shiba Inu, and this step positions the meme coin for consideration as a future ETF. SHIB’s advertising and marketing lead claims the coin already has the required setup for this, whereas a market analyst predicts significant price growth. Both agree that momentum for SHIB is selecting up now.
Shiba Inu Enters Coinbase’s ETF Watchlist
According to SHIB’s marketing lead, Susie S, the coin has now joined Coinbase’s “ETF Watchlist Club.” This group already contains Dogecoin (DOGE), Solana (SOL), Hedera (HBAR), and XRP. Being named on this group signifies that the Shiba Inu token is gaining extra critical consideration.
Susie S defined that Shiba Inu is in line for spot ETF consideration as a result of Coinbase already has a regulated futures contract known as the “1K SHIB Index.” It is important as a result of it places SHIB on the identical pathway that Bitcoin (BTC) and Ethereum (ETH) adopted earlier than they gained approval for spot ETFs. For the primary time, the meme coin now stands in the identical dialog as two of the world’s largest cryptocurrencies.
She added that whereas it could be tougher for Shiba Inu to launch its personal solo ETF instantly, the ETF might be half of a bigger product. That product might be one thing like a “Top 10 Crypto ETF” that bundles collectively a number of cash.
Market Analyst Sees Massive Potential For SHIB Price
Market analyst Heber Mayen additionally sees a giant future for Shiba Inu. Posting a SHIB price chart on X, he said, “It’s gonna be large!” His remark displays the rising consideration round Shiba Inu because it turns into extra energetic in buying and selling markets.
Mayen defined that SHIB’s reputation on Coinbase’s perpetual markets is a big indicator. As extra merchants purchase and promote SHIB in these merchandise, the buying and selling quantity goes up. This rise in quantity may also help SHIB meet one of many wants for an ETF to be permitted. In different phrases, the more people trade Shiba Inu now, the stronger the case turns into for a future ETF.
Currently, Shiba Inu is attracting extra leveraged merchants, and this ETF exercise could also be fueling ongoing hypothesis. Analysts like Mayen argue that momentum is on SHIB’s side as buyers search the subsequent large crypto ETF candidate. The worth motion and quantity exercise collectively create the kind of market story that may push Shiba Inu additional into the highlight. Backed by feedback from its advertising and marketing lead and bullish phrases from the analyst, the SHIB meme coin could become the next big thing.
Featured picture from Unsplash, chart from TradingView
