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The Shiba Inu (SHIB) community team is actively campaigning to make a compelling case for why the popular meme coin should be considered a strong candidate for a spot exchange-traded fund (ETF).
Despite Shiba Inu’s significant rise in the cryptocurrency market, currently holding the 17th position by market capitalization, no asset manager has yet filed for an ETF based on SHIB in the United States.
To address this, the Shiba Inu team, spearheaded by its marketing lead Lucie, has launched a campaign to demonstrate SHIB’s potential suitability for such a financial product. Lucie emphasized that the token is readily accessible on over 110 crypto exchanges, with an impressive 212 trading pairs, including widely used pairs like SHIB/USDT and SHIB/BTC.
This extensive availability ensures ease of access for investors, a crucial factor for any asset aiming for ETF inclusion. Furthermore, the high liquidity generated by these numerous trading options strengthens SHIB’s argument as a viable asset for an ETF.
Related: Shiba Inu ETF in the Works? Marketing Lead Reveals Key Details
Why Should Shiba Inu Be Seen as More Than Just a Meme Coin?
Lucie further highlighted the remarkable evolution of Shiba Inu from its origins as a meme coin to a thriving, decentralized, and community-driven project. Over the years, SHIB has matured and developed, positioning itself for long-term relevance in the market.
Lucie’s portrayal of SHIB as a long-term asset is specifically aimed at reassuring traditional investors who might be hesitant to invest in assets they perceive as short-lived or inherently unstable.
SHIB’s Resistant to Price Manipulation
Lucie also addressed concerns about price manipulation, arguing that it would require an immense amount of capital to significantly impact SHIB’s value. She suggested that even a billionaire attempting such manipulation would likely have a similar impact on major assets like Bitcoin.
According to Lucie, SHIB’s decentralized structure makes it inherently resistant to manipulation, offering a greater sense of stability for new investors. SHIB’s demonstrated ability to recover quickly from market downturns further bolsters its case as a resilient asset capable of withstanding volatility, making it a more appealing option for an ETF.
What Does SHIB’s Recent Market Performance Indicate?
Recent market data reveals that SHIB’s price has increased by 1.38% over the past 24 hours, reaching $0.00001313. This price appreciation is coupled with a significant surge in its trading volume, which jumped by 31.09%, indicating growing investor interest.
Related: Shiba Inu Futures: Everything You Need to Know
Technical indicators also paint a positive picture for SHIB’s potential price movement. The MACD indicator currently shows a bullish trend, with the MACD line positioned above the signal line, suggesting continued upward momentum in the short term.
Meanwhile, the RSI is at 48.38, indicating balanced market conditions for SHIB, without any signs of being overbought or oversold.
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