Shiba Inu Shatters Expectations: On the Path to Shed Meme Coin Status

Shiba Inu Shatters Expectations: On the Path to Shed Meme Coin Status

There are big things happening with Shiba inu crypto which is my largets crypto holding right now.

Could make it fly in the next bullish move.

Coinbase's Recent Filing: Coinbase has filed for Shiba Inu futures with the Commodity Futures Trading Commission (CFTC), boosting the prospects of a SHIB ETF.

This move, coupled with the impressive performance of Shibarium, highlights SHIB's growing influence in the crypto market.

Notably, Shibarium has defied traditional crypto norms by significantly reducing gas fees, making it more affordable and accessible for users.

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Performance Highlights: Grayscale's recent report shows that Shiba Inu has outperformed major cryptocurrencies like Bitcoin and Ethereum in both yearly and year-to-date gains.

This meteoric rise further cements SHIB's position as a formidable player in the market.

Technical Analysis: Looking at the daily chart, SHIB is currently trading below both the 200-day and 50-day moving averages.

It is approaching a significant support zone, as indicated in the attached chart. For a favorable long position, it is advisable to wait for a breakout above the moving averages.

Please find the chart below for your reference:

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To Your Trading Success,

Casey Stubbs