Expert Trader Advises Holding Shiba Inu Before Anticipated Bitcoin Surge to $75,000
A prominent full-time crypto trader known as “Blockchainedbb” has identified Shiba Inu as a prime asset to hold in anticipation of Bitcoin’s projected surge to $75,000. This assertion was made in response to the news that Coinbase, the largest exchange in the United States, is seeking to list futures contracts for Shiba Inu.
Coinbase recently submitted filings with the U.S. Commodity Futures Trading Commission (CFTC) for five new futures products, one of which is linked to SHIB, with trading expected to commence by July 15. The decision to list a Shiba Inu futures product is aimed at providing users with additional risk management options and opportunities to participate in the crypto market with lower initial capital requirements. Coinbase views the inclusion of Shiba Inu as a means to diversify its product lineup and improve the trading experience for its customers.
This move by the leading U.S. crypto exchange has generated significant optimism within the crypto community, particularly among the SHIB Army enthusiasts. Blockchainedbb is among the latest observers to express a positive outlook on Shiba Inu’s future price in light of these developments.
The analyst emphasized that the news surrounding Shiba Inu is a key reason why SHIB is one of her top picks for the anticipated Bitcoin surge to $75,000. According to Blockchainedbb, Shiba Inu plays a crucial role in unlocking retail liquidity for exits, making it an appealing asset during the projected price upswing.
Regarding the timing of purchasing Shiba Inu amidst the current market conditions, Blockchainedbb advised potential investors to consider joining the trend at the current low around $0.000017 rather than waiting for a possible further decline. However, the analyst cautioned that altcoins like SHIB could experience deeper corrections if Bitcoin retraces to $58,000. Nonetheless, acquiring SHIB through the spot market was deemed a safer option, as it is likely to recover following a dip, especially considering the risks associated with leveraged long positions during sharp price declines.
During Bitcoin’s rally to an all-time high exceeding $73,000 in March, Shiba Inu significantly benefited from the bullish momentum. Just before Bitcoin’s ATH, SHIB surged by nearly 400%, reaching $0.00004534 in early March, marking a substantial increase from its previous levels.
Market analysts anticipate a resurgence of this bullish trend, potentially propelling Shiba Inu towards the $0.0001 range. Bitcoin is currently hovering around $62,800, while SHIB is trading at $0.00001713. Notably, Bitcoin needs to appreciate by approximately 20% to reach a new all-time high of $75,000.
