Shiba Inu Hasn't Been This Hot Since 2021. Is It Heading to $0.01 This Year?
Bitcoin has set record highs this year and shows no signs of slowing down. And everyone's favorite meme token, Shiba Inu (CRYPTO: SHIB), has not just come along for the ride but has been leading the charge. Up a mammoth 240%, Shiba hasn't been rising this quickly since 2021, when meme stocks were taking off in value. While it would still have an incredibly long way to go, is there a chance the coin could hit $0.01 this year, given all the excitement?
Early 2022 was the last time Shiba Inu's price was around $0.000033, about the same as now. At the time, the crypto markets were in the midst of a tailspin as investors and speculators were selling risky assets.
This time around, however, there's much more excitement surrounding crypto as volumes are growing after several spot Bitcoin exchange-traded funds (ETFs) were approved by regulators earlier this year. And there's hope that there could be other similar ETFs coming for other coins, including Ethereum. An approval for an Ethereum spot ETF could come as early as May. If that happens, excitement may grow further that other coins and tokens, including Shiba Inu, could get their own spot ETFs.
Source Fool.com
