In an unprecedented mover, rumors of a Shiba Inu ETF launch looming over the crypto horizon have set the market abuzz. On Monday, famend on-chain tracker Whales HQ revealed that Wall Street specialists anticipate a SHIB ETF launch within the close to future. This announcement has echoed a frenzy amongst market contributors while fanatics speculate whether or not a DOGE ETF is within the pipeline or not.
Wall Street Experts Anticipate Shiba Inu ETF Launch Ahead Of DOGE
According to an X put up by Whales HQ dated October 7, Wall Street specialists are foreseeing a Shiba Inu ETF launch within the close to future. However, an enormous tide of hypothesis prevails out there whether or not such rumors are probably true.
Given the present market situation, it’s fairly evident {that a} digital asset-backed ETF propels substantial cash influx into the ecosystem. Should the crypto realm see a SHIB ETF launch, the same impression might emerge. However, given SHIB’s minor market cap of simply $10.52 billion, market watchers query the likeliness of such a situation.
If something, the biggest meme token by market cap, Dogecoin, might see an ETF earlier than a SHIB-backed exchange-traded product goes stay. On the opposite, Bitcoin, the primary crypto to attain an ETF approval, boasts a market cap of a whopping $1.24 trillion. Simultaneously, Ethereum, the second largest crypto by market cap, secured an ETF with a market cap of $297.16 billion. Concerning this, famend cryptocurrencies resembling Solana (SOL) and Ripple’s XRP seem like already in line for an ETF launch forward. CoinGape Media reported Bitwise filed for an XRP ETF not too long ago. Notably, the trade cast forward, submitting a registration for a Delaware statutory belief, eyeing the ETF launch.
Besides, it’s additionally price mentioning that Bonk, one other dog-themed meme coin, introduced a BONK ETP launch within the U.S. not too long ago. This mover by the token’s neighborhood paves the way in which for an ETF launch forward. Nevertheless, even Bonk’s market cap of simply $1.57 billion has clouded the possibilities of an ETF in an enigma. Altogether, present market stats level out {that a} Shiba Inu ETF launch might not be as quickly as identified by Whales HQ.
SHIB & DOGE Price Performance
At press time, SHIB price traded at $0.00001785, up almost 2% up to now 24 hours. The coin’s intraday high and low have been $0.0000175 and $0.00001878, respectively. Simultaneously, DOGE worth traded at $0.1111, which is up almost 1% up to now 24 hours. The coin’s 24-hour high and low have been $0.1096 and $0.1152, respectively. The meme cash’ rising motion at the moment falls consistent with the broader market development. Meanwhile, a Shiba Inu ETF launch might additional gas a constructive momentum within the token’s worth, though possibilities of so stay low within the close to future.
Coingape Staff
CoinGape contains an skilled workforce of native content material writers and editors working around the clock to cowl information globally and current information as a reality moderately than an opinion. CoinGape writers and reporters contributed to this text.
Disclaimer: The offered content material could embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.
