thecryptobasic.com
Shiba Inu’s marketing lead, Lucie, hints at imminent altcoin season, a period characterized by increased activities and rising prices for alternative cryptocurrencies, like SHIB.
The marketing lead made the assertion while reacting to BlackRock’s recent promotional video for its iShares Ethereum Trust ETF (ETHA).
BlackRock’s Promotional ETHA Video
In the video, BlackRock U.S. Head of Thematic and Active ETFs Jay Jacobs highlighted Ethereum’s unique features. According to Jacobs, Ethereum’s appeal lies in its utility.
He said Ethereum can be likened to a global platform for decentralized applications, noting the growing demand for ETH. As interest in Ethereum increased, BlackRock introduced the iShares Ethereum Trust ETF to give investors exposure to the second-biggest cryptocurrency.
BlackRock was among the eight issuers that received the SEC’s approval to launch a spot-based ETF for Ethereum.
The company’s ETH ETF commenced trading yesterday at 09:30 AM (EST), shortly after the promotional video was published, hitting $22.5 million in volume for the first 15 minutes of trading.
Altcoin Season Is Coming
Reacting to BlackRock’s ETHA promotional video, Lucie noted that despite the growing interest in crypto, critics still circulate FUDs (Fear, Uncertainty, and Doubt), causing concerns among investors.
She suggested that BlackRock released an Ethereum ETF video for potential investors amid this panic. As a result, the marketing lead urged crypto investors to think big, adding that the altcoin season is on the way.
Meanwhile they fud and people fear
BlackRock drops Ethereum ETF video for investors
THINK BIG – Altcoin season is coming $SHIB $SHEB $LEASH $BONEpic.twitter.com/mTOgxA1oDM
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 23, 2024
Shiba Inu Performance in Previous Altcoin Season
Most crypto investors are looking forward to this cycle’s altcoin season, which could potentially lead to increased price spikes in digital assets other than Bitcoin, like Shiba Inu.
Recall that during the 2020/2021 altcoin season, the price of Shiba Inu skyrocketed massively, rallying millions of percent to an all-time high of $0.00008845 on October 28, 2021.
At the time, the market did not have many positive events compared to now. Consequently, people speculate that the recently introduced ETFs could usher in the biggest and largest altcoin season. They project that funds would flow from the traditional financial sector into the altcoin market via the Ethereum spot ETFs.
In the meantime, experts have released bullish predictions for altcoins, including ETH and SHIB. As for SHIB, there are projections that the dog-themed token would surpass its ATH to new records ranging between $0.0001 and $0.001 during the imminent altcoin season.
Whether Shiba Inu will hit these targets before the end of the 2024/2025 altcoin season remains to be seen.