Shiba Inu (SHIB) Community Launches Campaign to Make a Compelling Case for an ETF Listing

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

The Shiba Inu (SHIB) community team has been 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 standing in the cryptocurrency market, currently ranked 17th by market capitalization, no asset manager has yet filed for an ETF based on SHIB in the United States.

To highlight the potential of SHIB for such a financial product, the Shiba Inu team, spearheaded by its marketing lead Lucie, has launched an initiative to showcase the token’s attributes.

As highlighted by Lucie, SHIB is readily accessible on more than 110 crypto exchanges, where it’s available in 212 trading pairs, including standard options like SHIB/USDT and SHIB/BTC. This wide availability ensures ease of access for investors, a crucial factor for any asset aiming for ETF inclusion.

Moreover, the high liquidity generated by these numerous trading options further strengthens SHIB’s argument as a viable asset for an ETF.

Why Should Shiba Inu Be Seen as More Than Just A Meme Coin?

Discussing the evolution of Shiba Inu from its origins as a meme coin to its present form as a decentralized and community-driven project, Lucie explained that SHIB has been developing over the years. She added that the token is now well-positioned for long-term relevance in the cryptocurrency market.

Lucie’s portrayal of SHIB as a long-term asset is specifically designed to appeal to traditional investors who might be more familiar with equities and fixed income instruments. These investors are often more hesitant to invest in cryptocurrencies, which they perceive as newer and potentially more volatile assets.

To address concerns about price manipulation, Lucie pointed out that it would require an immense amount of capital to exert a significant impact on 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 who might be more sensitive to rapid price swings.

SHIB’s demonstrated ability to quickly recover from market downturns and its resilience to volatility, especially in comparison to other cryptocurrencies, make it a more appealing option for an ETF, especially in the context of the broader market fluctuations observed in 2022.

What Does SHIB’s Recent Market Performance Indicate?

Recent market data from shows that the price of Shiba Inu (SHIB) has increased by 1.38% over the past 24 hours, bringing its latest price to $0.00001313. This price appreciation is accompanied by a significant surge in its trading volume, which experienced a 31.09% increment.

Technical indicators also present a positive outlook for SHIB’s potential price movement. The MACD indicator currently shows a bullish trend, with the MACD line at -0.00000165 and the signal line at -0.00000237.

At the time of writing, the MACD is in the positive territory at 0.00000072, suggesting that the bullish trend might continue in the short term.

Meanwhile, the Relative Strength Index (RSI) stands at 48.38, suggesting balanced market conditions for SHIB. The RSI is used to identify overbought or oversold conditions in an asset, with readings above 70 often indicating an overbought asset and readings below 30 suggesting an oversold asset.

In the case of SHIB, the RSI is in the neutral zone, which might suggest that the price could move in either direction from here.