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Shiba Inu Surges 33.5% Amidst ETF Speculation

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  • Shiba Inu has surged by 33.5% in the past month, breaking out of a bullish reversal pattern.
  • Anticipation of a potential SHIB ETF is fueling optimism for a significant price increase.
  • Shiba Inu’s lead developer, Shytoshi Kusama, has shared a cryptic post on X, sparking speculation about his future involvement in the project.

Shiba Inu, the beloved meme coin is reigniting community enthusiasm with its impressive rally. The token has surged by 33.5% in the past 30 days, breaking out of a bullish reversal pattern that suggests further upside potential. Excitement is growing among SHIB investors as speculation intensifies about the possibility of a Shiba Inu exchange-traded fund (ETF) hitting the market. Such a development could significantly boost the token’s exposure and liquidity, potentially driving a substantial price increase.

Shiba Inu
Source: Black Pearl

The fervor surrounding the token has led some SHIB members to compare it to Amazon Prime Day, where shoppers flock to the online retailer to score incredible deals on a wide range of products. Similarly, the cryptocurrency market is also experiencing some movement. Members speculate that Shiba Inu’s rise is likely influenced by the overall sentiment surrounding Bitcoin (BTC).

But what has truly captured the community’s attention is a recent cryptic post by Shytoshi Kusama where the lead developer referenced Japanese mythology and a famous woodblock print, leaving many wondering what it could mean for the future of the Shiba Inu ecosystem.

Shiba Inu Community Buzzes Over Kusama’s Enigmatic Post

Kusama, whose real identity remains a mystery, has been handling the Shiba Inu project ever since, Ryoshi, the original creator stepped down from the position in 2022. His leadership has been instrumental in guiding the project’s growth and development, and his continued involvement has been a source of confidence for many SHIB investors.

The cryptic message from Kusama has sparked rumors that he may be preparing to step away from the project, similar to Ryoshi. While no concrete evidence supports these claims, the post has fueled speculation that a significant change may be on the horizon.

As the Shiba Inu community decodes the message behind Kusama’s post, investors are closely watching for any further developments that could impact the price of SHIB.

Shiba Inu Developer Goes Wild Over UAE’s Crypto Tax Break

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  • Shytoshi Kusama praised the UAE for its progressive stance on cryptocurrencies, highlighting its potential as a global leader in the industry.
  • The UAE’s recent VAT exemption for cryptocurrency transactions is a significant step towards fostering a more favorable environment for digital assets.
  • The exemption has drawn positive attention from the crypto community and could contribute to increased adoption of Shiba Inu and other cryptocurrencies in the region.

Shytoshi Kusama, the lead developer behind the Shiba Inu cryptocurrency ecosystem, has lauded the United Arab Emirates (UAE) for its recent decision to exempt cryptocurrency transactions from value-added tax (VAT). The reaction has drawn the interest of the crypto community and might signal the increased adoption of Shiba Inu and other cryptocurrencies in the region.

In a post on X (formerly Twitter) on Sunday, Kusama responded to the news with a GIF of Vegeta, a character from the popular anime series Dragon Ball. The pseudonymous developer dubbed the UAE the “cryptocurrency capital,” expressing his enthusiasm for the country’s progressive stance on digital assets.

Recently, the UAE’s Federal Tax Authority made significant changes and amended its VAT laws to eliminate taxes on the transfer and conversion of virtual assets. According to the accounting firm PricewaterhouseCoopers (PwC), this move will retroactively take effect on January 1, 2018.

Shiba Inu: UAE Next Big Adoption?

The exemption is the latest in a series of steps the UAE government took to promote the country as a crypto-friendly hub. Earlier this year, Binance, the world’s largest cryptocurrency exchange, secured a full regulatory license in Dubai. Last week, Ripple Labs also received in-principle approval to offer blockchain-enabled payment services from the Dubai International Financial Centre (DIFC).

Ripple’s current CEO Brad Garlinghouse believes UAE’s favorable approach to regulation is the critical factor that could prompt blockchain and cryptocurrency adoption. He said:

With its forward-thinking regulatory approach and clear guidance for innovative businesses seeking to invest and scale, the UAE is positioning itself as a global leader in this new era of financial technology.

Earlier Kusama has expressed admiration for the UAE’s cryptocurrency landscape, culture, and his connections within the country. His praise for the VAT exemption further underscores the growing appeal of the UAE as a destination for cryptocurrency businesses and investors.

Shiba Inu Set for Long-Term Bull Market As 2024 Accumulation Phase Begins

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  • The final accumulation phase of 2024 presents an opportunity to purchase Shiba Inu and other altcoins at low prices.
  • While growth has been gradual, Shiba Inu is projected to see notable gains heading into 2025.
  • Despite recent dips, strong trading volume for Shiba Inu reflects ongoing investor interest and potential future growth.

As the cryptocurrency market moves closer to the year 2025, Alan Santana has made some predictions about the possibility of a long term bull market and Shiba Inu (SHIB) in particular. In a recent post on X, Santana pointed out that the altcoin market is now in the last accumulation stage of 2024, and this is a good time for investors to buy cheap before the next bull rally.

This accumulation phase can take a few months and hence gives the investors enough time to prepare for the next rise. This current bear market in the cryptocurrency market is in harmony with the previous analysis from August, which indicated that there is still one more dump before altcoins like Shib could start an accumulation phase. This structure is poised to propel the market into massive growth in 2025.

Shiba Inu’s Steady Progress

However, during the same period, some of the assets have surged, and Shiba Inu has only increased at a slow pace. In the last three weeks, Shiba Inu has been relatively stable, while other altcoins have shown much more strength. The analyst highlighted that not all the assets will be aligning at the same speed and there will be a notable growth of Shiba Inu by 2025.

As of today, Shiba Inu (SHIB) trades at $0.00001594. During the last 24 hours, the coin price decreased by 1.44%. Last week has been worse for SHIB as it saw a 5.46% decline in its price. However, the value of Shiba Inu has been a bit shaky in the past few days, but still, it continues to have a 24 hour trading volume of $784,832,585. This high trading activity points towards the token’s price staying volatile, and people still trading the token.

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Source: TradingView

Bearish Phase Before 2025 Bull Run

This bearish trend is expected to persist for some few more weeks before the market enters a bullish phase which may take several months. Looking at the future towards 2025, there is still expected to be a general upward trend in the business and investors who are able to keep up with the trends and prepare themselves will be very well placed to reap the rewards of these periods of growth and avoid the pitfalls.

While Shiba Inu and other altcoins are in this crucial accumulation stage, investors should be cautious. The coming months may open up quite a few compelling opportunities and those who are ready may get a lot out of the long-term expansion that is predicted for 2025.

Shiba Inu’s Burn Rate to Soar Amidst Liquid Staking Platform Launch

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Shiba Inu partner firm K9 Finance will launch the official liquid staking platform for Shibarium on September 19. This move is set to enable liquid staking for BONE tokens, fuelling SHIB’s burn rate by ramping up both total value locked (TVL) and transaction volume on the Shibarium network.

Burning SHIB tokens is a key mechanism for reducing the total supply and potentially driving up the token’s value. By increasing the total value locked [TVL] on the layer-2 protocol, liquid staking could attract more investors and enhance the network’s overall security. With a rise in transaction volume on Shibarium, the burn rate for Shiba Inu could see a marked increase.

Besides that, sending a portion of SHIB tokens to dead wallets directly reduces the total supply, which in turn could drive up its value. Not long back, SHIB’s burn rate jumped by a whopping 3,348%, incinerating 7.8 million tokens in just 24 hours. The surge in burning activity came in as a pleasant surprise for the community as it helped reduce the inflationary pressure on the meme coin.

Will Liquid Staking Fuel Shiba Inu’s Price Surge?

Despite its price drop in tandem with the burn event, SHIB’s reduced sell-offs, and a positive trend in staking hints of a potential price recovery soon. Market experts believed that widespread adoption of Liquid staking, with time, could further accelerate these burn events, potentially leading to a robust price rally for SHIB in the future.

Having said that, Shibarium’s liquid staking platform has secured the attention of both the SHIB community and the wider crypto space. As the Shiba Inu ecosystem continues to evolve, liquid staking could be the lead catalyst in maintaining momentum for the token’s deflationary goals. Whether the price growth remains to be seen, liquid staking is undoubtedly a cornerstone of SHIB’s future.

With the K9 Finance team gearing up to launch the official liquid staking platform on Shibarium, the community eagerly awaits the potential boost in SHIB burns and network activity.

Shiba Inu Eyes Massive Rally: Could Hit $0.00003420 Soon

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Shiba Inu, the renowned meme coin, is displaying signs of a potential bullish reversal from a falling wedge pattern on the daily timeframe. This positive technical indicator hints at a substantial price surge for SHIB. A falling wedge is a chart pattern that indicates a breakoutof a downtrend.

It features a descending series of lower highs and lower lows, converging towards a point in the future. A price surge beyond the upper boundary of a falling wedge, is often considered a positive sign for the asset.

Shiba Inu is breaking a falling wedge pattern on the daily timeframe. Potential targets after bounce from the support zone are: $0.00001610, $0.00002010, $0.00002380, $0.00002940, and $0.00003420

In the case of Shiba Inu, the price has been consolidating within a falling wedge for several weeks. However, recent price action has shown signs of strength, with the price approaching the upper boundary of the pattern. If SHIB manages to break out above this resistance level, it could trigger a sharp rally.

Potential targets for SHIB after a breakout from the falling wedge include $0.00001610, $0.00002010, $0.00002380, $0.00002940, and $0.00003420. These levels represent key resistance zones that SHIB would need to overcome to continue its upward momentum.

Shiba Inu Bullish Technicals vs. Bearish Fundamentals

While technical analysis suggests a potential upward trend for Shiba Inu, a broader market analysis paints a more nuanced picture. A recent study by Santiment revealed that SHIB’s performance has lagged behind Dogecoin [DOGE], with long-term holders incurring substantial losses. Moreover, retail traders are actively selling SHIB, and the overall market sentiment remains bearish.

Shiba Inu
Shiba Inu Eyes Massive Rally: Could Hit $0.00003420 Soon 4

This divergence between technical and fundamental factors creates a complex scenario for SHIB investors. While the technical indicators may point to a potential price increase, the negative market sentiment and investor behavior could hinder SHIB’s ability to capitalize on these opportunities.

Nevertheless, the breaking of a falling wedge pattern is a positive development for Shiba Inu, and it suggests that the coin may be entering a new phase of uptrend. It is important to note that technical analysis is not foolproof, and there is always a risk of a false breakout.

Here’s How Dogecoin (DOGE) And Shiba Inu Shiba Investors Are Feeling Following The Market Recovery

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Recently the crypto market began to experience a steady recovery after the market dip, which crippled top meme coins like Shiba Inu (SHIB) and Dogecoin (DOGE). Further, amidst the recovery, a crypto ETF token, ETFSwap (ETFS), garnered massive traction in its ongoing presale phase. This article focuses on the current price performance of Shiba Inu and Dogecoin. It also focuses on why ETFSwap (ETFS) continues to flourish in presale.

ETFSwap (ETFS) Rides Bullish Wave Amidst Market Recovery

ETFSwap (ETFS) is a blockchain-based crypto ETF trading platform that introduces the unique option of trading tokenized exchange-traded funds (ETFs) on-chain. The tokenized ETFs thereby make it possible for everyone in the crypto industry to invest in assets like gold, stocks, and bonds in a fully decentralized manner. Further, users who choose to trade tokenized ETFs will benefit from the ability to extend their profit potential by over 50x on the platform’s derivative trading arm.

 In addition, users who want to amplify their portfolio can use the network’s fractional trading feature. As a decentralized platform, ETFSwap (ETFS) will not require KYC verification for new users, enabling them to sign up and start trading minutes after signing up. ETFSwap (ETFS) also intends to partner with other DeFi giants to boost the growth of the decentralized finance sector. The platform has also agreed to a thorough audit of its smart contract by world-renowned blockchain security firm Cyberscope. 

After a meticulous check, Cyberscope found no underlying issues that could make the platform vulnerable to all sorts of cyber attacks. ETFSwap (ETFS) also features a native token, ETFS, which functions as a standard ERC-20 token. The platform also designed ETFS to be a deflationary token, meaning its total supply will continue to decrease, thanks to a burning mechanism.

A steady decrease in the token’s supply will prevent ETFS from becoming overabundant, which can cause it to lose value or become worthless. Instead, it will create a scarcity that will equip ETFS with what it takes to remain relevant in a competitive market. As the platform’s native token, ETFS will be responsible for all the activities carried out on the network, including trading of tokenized ETFs. 

Therefore, all users who want to access all the features on the network must own a portion of ETFS. However, owning ETFS provides added benefits like staking rewards, bonuses, and access to exclusive investment offers. At the moment, the only way to buy ETFS is to participate in the platform’s ongoing presale event, where it is offering the token at a low price of $0.03846. 

Shiba Inu (SHIB) and Dogecoin (DOGE) Investors Battle Indecision

A recent report by Santiment, an on-chain market intelligence platform, indicates that Shiba Inu investors are battling a high level of FUD. According to Santiment, the percentage of Shiba Inu holders with less than 1 billion SHIB in their wallets has hit its lowest level since November 2022.

 In addition, Santiment maintains that Shiba Inu is also experiencing a decline in social media interest, resulting in a pessimistic sentiment among Shiba Inu investors. Further, another report shows that Shiba Inu is lagging in trading volume amongst other meme coins, including its foremost competitor Dogecoin (DOGE). 

However, Santiment also indicates that Dogecoin (DOGE) has not fared better, showing no signs of FOMO despite the recent market recovery. Further, Dogecoin (DOGE) investors have been indecisive, with Santiment speculating that the meme coin is now at break-even. According to  CoinGecko, Shiba Inu currently trades at $0.00001340, ranking 16th in the crypto market. Also, Dogecoin (DOGE) exchanges hands at $0.10 and ranks 9th in the crypto market. 

Conclusion

While Shiba Inu (SHIB) and Dogecoin (DOGE) investors are battling FUD, the reverse is the case for ETFSwap (ETFS), as investors from all regions are currently rushing to buy it in presale. One of the major factors propelling the investors is experts’ prospect of ETFS surging to the $5 mark as the crypto market begins a steady recovery. So hurry today and buy ETFS without delay. 

For more information about the ETFS Presale:

Visit ETFSwap Presale

Shiba Inu Eyes Decentralized Governance with Upcoming DAO Launch

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Thе Shiba Inu (SHIB) еcosystеm, boаsting thе 13th lаrgеst cryptocurrеncy mаrkеt cаp, is poisеd for а significаnt shift towаrds dеcеntrаlizеd govеrnаncе with thе lаunch of а Dеcеntrаlizеd Autonomous Orgаnizаtion (DAO). 

This аnnouncеmеnt, mаdе by Shiba Inu’s psеudonymous mаrkеting lеаd “Luciе” on а sociаl mеdiа plаtform, еmpowеrs token holdеrs, rеgаrdlеss of thеir holdings, to dirеctly influеncе thе projеct’s futurе.

Thе Shibа Inu DAO, still undеr dеvеlopmеnt, rеprеsеnts а mаjor milеstonе for thе projеct, trаnsitioning dеcision-mаking powеr from а cеntrаlizеd structurе to thе еngаgеd SHIB community. 

Thе govеrnаncе structurе will includе two mаin councils: thе “Chаrity Council” аnd thе “Culturе & Hеritаgе Council.” Thеsе councils will work collаborаtivеly to stееr community initiаtivеs, еnsuring thаt Shiba Inu’s growth is аlignеd with its foundаtionаl vаluеs аnd principlеs.

Thе Chаrity Council will focus on philаnthropic еfforts, lеvеrаging SHIB’s rеsourcеs to support chаritаblе cаusеs аnd positivеly impаct thе broаdеr community. Mеаnwhilе, thе Culturе & Hеritаgе Council will prioritizе prеsеrving аnd promoting Shibа Inu’s uniquе culturаl idеntity.

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Shiba Inu Eyes Decentralized Governance with Upcoming DAO Launch 6

Thе DAO’s govеrnаncе structurе еxtеnds bеyond SHIB tokеns. Bonе ShibаSwаp (BONE) аnd Dogе Killеr (LEASH), othеr tokеns within thе еcosystеm, will аlso plаy а rolе. BONE holdеrs will hаvе а sаy in proposаls rеgаrding еducаtion аnd innovаtion, whilе LEASH holdеrs will focus on еnsuring inclusivity аnd trаnspаrеncy within thе projеct.

DAO Expands Shiba Inu Ecosystem’s Utility

Thе introduction of thе DAO builds upon thе rеcеnt migrаtion of ShibаSwаp, а dеcеntrаlizеd еxchаngе аlignеd with thе Shibа Inu еcosystеm,  to thе projеct’s own Shibаrium blockchаin in Mаrch 2024. This movе furthеr еxpаnds thе utility offеrеd by thе SHIB еcosystеm.

Thе rеcеnt DAO аnnouncеmеnt hаsn’t cаusеd а significаnt pricе surgе for SHIB, which is currеntly trаding аt $0.00001491.  Dеspitе rеmаining down 83.11% from its аll-timе high of $0.00008616 (rеаchеd in Octobеr 2021), SHIB still boаsts а mаrkеt cаp of $8.7 billion. Notаbly, а rеcеnt аnаlysis by populаr finаnciаl аccount World of Chаrts suggеsts а potеntiаl bullish wаvе for SHIB in thе coming wееks.

World of Chаrts prеdicts thаt token hаs succеssfully brokеn out of а long-tеrm fаlling wеdgе pаttеrn, potеntiаlly lеаding to а significаnt pricе incrеаsе. Thеir аnаlysis suggеsts а potеntiаl gаin еxcееding 85% for SHIB in thе nеаr futurе.

Only timе will tеll if this prеdiction holds truе, but thе upcoming DAO lаunch аnd potеntiаl pricе surgе prеsеnt аn еxciting outlook for thе futurе of Shiba Inu.

Related Readings | Altseason 2.0: Mapping the Path to the Next Crypto Boom

Shiba Inu 2025 Forecast: Why Patience Could Pay Off 25X?

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In a recent market analysis, crypto expert Alan Santana gave a clear-eyed perspective on Shiba Inu, touting strategic planning at the forefront of trading and keeping emotions at bay. He pointed out that this will probably turn into an accumulation zone with SHIB, leading into 2025. After which, he sees the price really lifting away for those who negotiated the market wisely.

According to Santana, Shiba Inu is currently in a correction phase, with its price likely to drop further into what he calls the “accumulation zone.” As per him, this sideways movement and consolidation phase is the best time for long-term investors to build their positions.

Santana suggests that after this phase, a major bull market is likely to develop, pushing SHIB to new highs. The potential growth, he argues, could be in the range of 20 to 25x the current price by the peak of the next bull run.

Avoiding Emotional Traps in Shiba Inu Trading

Santana’s advice flows from technical analysis all the way to the psychological aspects of trading. He warns against such dangers as excitement and emotional decision-making, which in most cases end terribly. “Excitement in trading is a red flag,” Santana says, adding that it normally heralds a lack of proper research or preparation. He urges calm and methodical conduct, more so in cryptocurrency markets.

The expert elaborates that the need to get into a trade can be so compelling and Ranck-headed, hence clouding judgment with certain common mistakes of prolonged holding or way-too-early exits. Santana thus urges traders at all times to have a clear plan before entering the market and sticking to it despite emotional impulses. To him, a steady patient approach is key to securing profits and minimize losses.

Looking ahead, Santana’s plan for Shiba Inu is to buy and hold, and late 2024 or early 2025 is the best opportunity for big money. At this point, he says that when the market turns bullish, traders will have months to devise a strategy to leave the market because altcoin bull markets tend to last for several months. Santana closes by advising traders to focus on the long-term success and not be overexcited about the short-term excitement.

Related Reading | SEC Greenlights MSTX ETF Offering 175% Leverage on MicroStrategy Stock

Shiba Inu’s $100M Dump Sparks Debate

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The recent WazirX hack triggered a massive Shiba Inu, raising concerns for Shardeum’s locked token plan. With nearly $100 million worth of SHIB dump, the price of the meme coin plummeted, prompting widespread discussions on the implications.

Amidst the chaos regarding the hack, Shardeum’s plan to lock up a portion of its users’ crypto portfolios is in the limelight. It is to be noted that the platform is exploring options to unlock these tokens, such as creating new projects and airdropping them to users. However, in light of the recent hack, some community members are skeptical about the effectiveness of this approach.

Instead, prominent SHIB members like Lola are calling for Shardeum to consider acquiring Shiba Inu and airdropping it to its users instead. This, they argue, would not only help to mitigate the losses suffered by SHIB holders but also create a more robust ecosystem for both platforms.

Shiba Inu
Shiba Inu's $100M Dump Sparks Debate 8

Furthermore, some community members have suggested that multiple cryptocurrency exchanges and decentralized exchanges (DEXs) could help to reduce the supply of SHIB by burning a portion of their trading fees. This deflationary measure could help to increase the price of SHIB and, in turn, help WazirX customers recover some of their losses.

As per the latest reports, the WazirX exploiter has sold off a massive amount of SHIB, totaling 5.43 trillion tokens, in exchange for 26,535 ETH, approximately $92 million. Fans of the popular meme coin have raised concerns about the impact of the WazirX hacker’s actions on the market. However, the SHIB team has highlighted Wintermute’s crucial role in mitigating potential damage.

How Market Makers Stabilized Shiba Inu

By buying Shiba Inu from decentralized exchanges [DEX] and subsequently depositing it on centralized exchanges for arbitrage opportunities, market makers like Wintermute and others helped stabilize the price. This strategic intervention prevented a more severe price drop, demonstrating the effectiveness of such market mechanisms in maintaining equilibrium.

As for the latest development, it remains to be seen how Shardeum will respond to these suggestions. However, the WazirX hack has highlighted the risks associated with holding large amounts of cryptocurrency on exchanges and the importance of having robust security measures in place.

Shiba Inu Fans Expose Crypto.com’s Misleading TREAT Post

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Shiba Inu community members have alerted users of an incorrect link belonging to the Treat token that Crypto.com inadvertently shared. Treat is an upcoming ecosystem token, that has not yet been launched. The SHIB member urged users to exercise caution and avoid being ensnared by misleading links or spoofs designed to defraud users.

As per community members, the exchange’s misstep occurred in a weekend blog post intended to guide users through the Shiba Inu ecosystem. The post erroneously linked TREAT to an external URL not affiliated with Shiba Inu, raising concerns about potential scams and security risks. The article also incorrectly stated that Susbarium found the http://treattoken.org link first in the crypto.com post, as TREAT army found the embedded link first in its telegram channel only moments after Shibtoken retweeted the post.

Shiba Inu
Shiba Inu Fans Expose Crypto.com’s Misleading TREAT Post 10

After debunking the claims, the member slammed the post as too opinionated and urged users to do thorough research and only follow official sources for information.

I think we’re learning that it’s really important for our global community not to quickly jump to conclusions because the best opportunities in crypto are usually difficult to see. If you rush through your research, or you are lazy in your research, you will surely miss out on the best tokens, like $TREAT! So, Instead of blindly listening to others’ opinions on TREAT, I highly recommend you conduct your research and decide for yourself!

Shiba Inu’s TREAT Token: $12M Deal

Previously, deceptive campaigns of the TREAT token falsely announced the stealth launch of the tokens. This might be due to the anticipation surrounding the token’s upcoming role in various initiatives of the meme coin ecosystem. TREAT is set to play a key role in the latest project, a Fully Homomorphic Encryption [FHE] blockchain.

As reported earlier, the Shiba Inu team secured a $12 million deal for the latest project that will be powered by the TREAT token, the final non-stable token in the Shiba Inu ecosystem. The investment round was led by prominent venture capitalist Cypher Capital. Other investors include Polygon Ventures, Mechanism Capital, Big Brain Holdings, and Shima Capital.

According to Shiba Inu, the TREAT token serves as the “utility and governance token” of its new privacy-focused Layer 3 blockchain, which is being built on Shibarium, its Ethereum Layer 2 blockchain.