Shiba Inu Bullish Despite Turbulence, ETF and Fed Rate Cut May Drive Gains
Shiba Inu (SHIB) price remains under downward pressure. Yet it shows signs of strength near $0.00001306. Fresh buzz about a possible exchange-traded fund (ETF) and the Federal Reserve’s interest rate cut could provide a boost.
Recently, SHIB dipped to $0.00001170 but has since climbed back up. However, a drop in trading volume hints at investor hesitation. The security breach on Shibarium further impacted SHIB’s position, knocking it out of the top 20 cryptos by market cap.
Bullish sentiment looms though. Analysts suggest ETF approval could draw new investors to SHIB, enhancing support similarly to what happened with Dogecoin (DOGE). Provided its substantial community and listings, SHIB stands a good chance for ETF readiness.
- ETF anticipation may ignite SHIB’s price climb.
- Federal reserve’s rate cut buoyed overall market optimism.
The recent Federal Reserve 25-basis-point rate cut has stirred positive sentiment among cryptos.While stocks had a muted reaction, Bitcoin (BTC) noted a slight increase. This bodes well for SHIB, suggesting it might align with the upward trend in the broader crypto market. Bulls aim for SHIB prices to surpass $0.000013 and touch $0.00001475 in the short term.
