Shiba Inu Possible Price If It Gets ETF Approval and 30% of Bitcoin Inflows

Shiba Inu has positioned itself as a meme coin with massive growth potential as its developers continue to roll out more utility. Its vibrant community remains optimistic, with many projecting ambitious prices amid speculations for a potential ETF product. 

Given the meme coin’s buzzing community and investor support, a Shiba Inu ETF could attract 30% of spot BTC ETF inflows. Such a feat could send SHIB to high highs. Here’s Shiba Inu’s possible price trajectory if a SHIB ETF product is launched.  

Shiba Inu’s Price Prediction if SHIB Receives 30% of Bitcoin Spot ETF inflows

The recently launched Spot Bitcoin ETFs have attracted numerous investors seeking indirect, managed exposure to Bitcoin. This remarkable success has encouraged other altcoin developers to apply for similar products.

Ethereum ETFs grapple with approval issues, with the SEC potentially viewing ETH as a security. Top asset managers like BlackRock and Fidelity, vying for an Ethereum spot ETF approval, might seek alternatives. 

Shiba Inu is one of the few altcoins that has not been labeled as a security by the US SEC. This is likely due to its decentralized nature.  

Amid the growing popularity of crypto ETFs, the SHIB community has called on BlackRock to launch a SHIB ETF product. Also, investors and community members have directed a petition to Grayscale requesting the creation of a Shiba Inu ETF.   

Bitcoin has recorded massive price increases, even breaking its all-time high following massive ETF inflows. BTC ETFs record an average monthly net inflow of $2.98 billion. 

These inflows rose to $11.946 billion since the Bitcoin spot ETFs were approved on January 10. Based on the current rate of inflows, Bitcoin ETF products could record $35.78 billion in inflows by the end of 2024.      

Like Bitcoin, the launch of a SHIB ETF will likely impact its price positively. However, the true extent of the impact will depend on the ETF adoption rate. 

If these SHIB ETFs can attract 30% of the projected Bitcoin inflows, they will record up to a $10.74 billion increase. This will equal an additional $100 billion to SHIB’s valuation based on the Bank of America’s (BoA) 1:10 multiplier. 

Such massive inflows could also propel Shiba Inu’s market cap to $113 billion, placing it among the top five crypto assets. If the market cap value rises to $113 billion, then SHIB’s price could increase to $0.0001917. 

However, this will only occur if the circulating supply of 589 trillion tokens remains constant. Also, a price increase to $0.0001917 represents a 750% surge for Shiba Inu. So, a SHIB ETF approval could significantly boost its price. 

However, note that this projection is only speculative, and there is no guarantee that a SHIB ETF will be launched soon.

How is SHIB Faring Today? 

SHIB currently trades around $0.000021, with a 24-hour price decline of 11.4% as of 5:52 a.m. EST. Shiba Inu has formed six consecutive red candles on the daily chart, indicating massive selling pressure. 

The meme coin faced rejection at the $0.00002225 resistance level and is now approaching the $0.00002053 support level. SHIB is approaching the lower region of the Donchian Channel (DC), which confirms that the sellers are in control. 

Also, the RSI is 34.25, showing that SHIB is almost oversold. Notably, the oversold region presents an attractive entry point for buy-the-dip investors, which could create upward pressure and trigger a rebound. 

Overall, SHIB will likely continue to decline in the coming days until the buyers return to force a rally again.