The Shiba Inu coin has recently captured attention with projections indicating a potential price surge of 138%. These forecasts emerged in the wake of regulatory developments concerning SHIB futures contracts, which have heightened the possibility of a spot ETF. Coinbase’s recent introduction of SHIB futures is viewed as a crucial step in this process.
Technical Analysis Points to Shiba Inu’s Upward Potential
Cryptocurrency analyst Javon Marks suggests that Shiba Inu has a 138% upside potential in the current market cycle. Should Marks’s predictions materialize, the altcoin‘s price could ascend to approximately $0.000032.
Marks’s forecast is based on the observation of SHIB consolidating within a symmetrical triangle formation on a two-day time frame. This narrowing price range is often seen as a precursor to significant breakouts. At the time of writing, SHIB is trading close to $0.00001341.
Technical indicators corroborate this bullish outlook. The altcoin is trading above its pivot point and the 200-day exponential moving average. The MACD histogram has turned positive, while the RSI is not in the overbought zone. Furthermore, SHIB’s coin burn rate has spiked by 438% over the past 24 hours.
Futures Trading Sparks Spot ETF Optimism
The U.S.-based cryptocurrency exchange Coinbase has listed a SHIB futures product named “1k Shib Index.” The development, when combined with new ETF rules from the U.S. Securities and Exchange Commission (SEC), has brought a spot ETF for Shiba Inu into the conversation.
The SEC’s regulation, enacted in July, allows for expedited review of futures contracts tied to regulated cryptocurrencies, potentially including Shiba Inu in an evaluation process that may conclude within 75 days.
Meanwhile, Lucie from the Shiba Inu team highlighted that the altcoin is listed on over 110 exchanges with more than 200 trading pairs. This broad availability is viewed as a strategic advantage for potential ETF applications, placing SHIB in the same category as other futures-supported cryptocurrencies like XRP, Cardano 
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