Altcoins
Expert Highlights Shiba Inu and 9 Altcoins Poised for a 100x Increase
Ava Monaro highlights ten altcoins, including Shiba Inu (SHIB), poised for significant gains of up to 100x following Ethereum ETF approval.
The recent approval The increase in the price of several Ethereum spot exchange-traded funds (ETFs) has boosted investor confidence that the broader market is about to rally, potentially impacting altcoins including Shiba Inu (SHIB).
Ethereum ETFs See Over $2.2 Billion in Net Inflows
To put things into context, Ethereum ETFs officially began trading last week after the SEC approved S-1 filings for the funds. Interestingly, the funds saw over $1 billion in volume on their first day of trading.
Additionally, eight of the nine approved funds, with the exception of the Grayscale Ethereum Trust ETF (ETHE), saw inflows.
According to data from CoinShares, these eight exchange-traded funds have generated over $2.2 billion in net inflows. Following these massive inflows, market observers are speculating that this could have a positive impact on the price of ETH. Given Ethereum’s influence on the broader market, a rise in ETH’s price could trigger a similar surge in the value of other altcoins.
Top 10 Altcoins Set to Rise 100x
Therefore, Ava Monaro, a popular cryptocurrency enthusiast Underlines Top 10 Altcoins That Could Surge Between 1,000% (10x) and 10,000% (100x) Following Ethereum Spot ETF Approval.
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 Price Potential Rise to $0.0001 – $0.001 Territories
For example, Shiba Inu is currently trading at $0.00001673, but a 10x increase would take the asset’s price to $0.00018403. Interestingly, if it sees a 10,000% increase from its current price, Shiba Inu would reach a target of $0.00168973.
Several experts have predicted that SHIB will trade in the range of $0.0001 to $0.001 in a bull market. In particular, experts at Changelly speculate that SHIB could reach the $0.0001 threshold by December 2027, which is about three years away. Similarly, they projected that SHIB would reach the $0.001 threshold 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 this feat within the expected timeframe.
Meanwhile, SHIB is down 2.24% over the past 24 hours, with its price set at $0.00001673 per token. The token has also seen a similar 2.4% decline on the weekly charts.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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