The post SHIB ETF proposal sparks breakout hopes – Will it ignite a massive rally? appeared on BitcoinEthereumNews.com.

Unlike Dogecoin ETF, no issuer has applied for a SHIB ETF so far  Sell-offs on exchanges were low as holders bought the dip in Q1 One of Shiba Inu’s [SHIB] ecosystem executives, Lucie, is in the news today after she made an ETF pitch for the memecoin. Needless to say, this has sparked buzz around a potential price breakout. According to her, SHIB is accessible across several exchanges and isn’t ‘just a meme.’  “Is SHIB good for an ETF? Yes. Will boomers invest in a “doggy coin”? Also yes. Because SHIB isn’t just a meme—it’s decentralized, community-driven, and built to last.” Will SHIB follow DOGE? Here, it’s worth noting that apart from Dogecoin [DOGE], no issuer has filed for a spot memecoin ETF with the SEC, at the time of writing. Even so, the markets have high hopes, with there being a 72% chance of approval by the end of 2025 on Polymarket. As the top pioneers in the memecoin space, it remains to be seen whether a SHIB ETF will follow DOGE ETF.  That being said, SHIB may be well primed for a breakout, given low selling pressure and a months-long accumulation spree. The only thing needed is the right catalyst. Notably, sell-offs on exchanges dipped to record lows, as illustrated by the supply on exchanges (yellow line).  Similarly, over 50 trillion SHIB have been moved from exchanges (accumulation) between December and March. Per supply outside exchanges (blue), the figure increased from 855 trillion SHIB to 901 trillion SHIB. Simply put, holders bought the Q1 dip and may be expecting a future rally.  Source: Santiment However, network activity declined to quarterly lows of around 4000, compared to nearly 20k seen in December. That hinted at 5x decline in user interest. A strong recovery could be at risk if user…

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Filed under: News - @ March 26, 2025 7:21 am