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Ava Monaro highlights ten altcoins, including Shiba Inu (SHIB), poised to experience significant gains of up to 100x following the approval of Ethereum ETFs.
The recent approval of multiple Ethereum spot exchange-traded funds (ETFs) has bolstered investors’ confidence about an imminent rally for the broader market capable of impacting altcoins, including Shiba Inu (SHIB).
Ethereum ETFs Record Over $2.2B in Net Inflows
For context, the Ethereum ETFs officially commenced trading last week after the SEC approved the S-1 applications for these funds. Interestingly, the funds recorded over $1 billion in volume on the first trading day.
Moreover, eight of the nine approved funds, except Grayscale Ethereum Trust ETF (ETHE), have witnessed inflows.
According to CoinShares data, these eight exchange-traded funds have generated over $2.2 billion in net inflows. Following the massive inflows, market watchers speculate that this could positively impact ETH’s price. Given Ethereum’s influence on the broader market, an increase in ETH’s price could trigger a similar rise in the values of other altcoins.
Top 10 Altcoins Poised for 100x Surge
Consequently, popular crypto enthusiast Ava Monaro highlighted the top 10 altcoins that could surge between 1,000% (10x) and 10,000% (100x) following the approval of spot Ethereum ETFs.
They include Shiba Inu (SHIB), Byte (BYTE), Ethereum Name Service (ENS), Render (RNDR), Baby DogeCoin (BabyDoge), Turbo (TURBO), Pepe (PEPE), Bonk (BONK), Toncoin (TON), and Ondo (ONDO).
Notably, Monaro’s tweet suggests that the massive inflow into Ethereum ETFs would lead to substantial price increases for these altcoins.
Shiba Inu Potential Surge to $0.0001 – $0.001 Territories
For instance, Shiba Inu is currently trading at $0.00001673, but a 10x surge would take the asset’s price to $0.00018403. Interestingly, if it witnesses a 10,000% surge from its current price, Shiba Inu would hit a target of $0.00168973.
Multiple experts have projected that SHIB would trade within the ranges of $0.0001 to $0.001 in a bull market. In particular, experts from Changelly speculate that SHIB could reach the $0.0001 threshold by December 2027, approximately three years from now. Similarly, they projected that SHIB would surge to the $0.001 territory no earlier than 2040.
While these predictions reflect analysts’ confidence in SHIB, it is imperative to note that there is no guarantee that Shiba Inu will achieve the feat within the projected timelines.
In the meantime, SHIB is down 2.24% over the past 24 hours, with its price pegged at $0.00001673 per token. The token has also witnessed a similar decline of 2.4% in the weekly charts.