The head of Shiba Inu’s social media marketing, Lucie, has sent out a warning to the SHIB community and offered a plausible explanation for the meme coin’s recent weekly decline of almost 20%.
Meanwhile, a fresh SHIB whale has amassed an incredible quantity of these meme currency.
Lucie warns Shiba Inu community
Lucie has sent a cautionary note to the SHIB troops on cryptocurrency trading, stating that the market has now become a roller coaster. She thinks that the huge news of the SEC regulator’s approval of the Bitcoin spot ETF, which is anticipated to be released on January 10, is the primary cause of the market’s current extreme redness.
Currently, traders are speculating as to whether the SEC will approve the new Bitcoin-based product—which would enable a massive influx of capital into the cryptocurrency market and guarantee enormous profits for ETF providers—or whether it would halt it until a later time this year.
https://x.com/LucieSHIB/status/1744225659763773894?s=20
The whole cryptocurrency market was rocked by an essay released last week by Jihan Wu’s business, Matrixport. For a variety of reasons, including political ones, Matrixport analysts predict that the regulator will not likely accept the dozen Bitcoin spot ETF submissions. As a result, Bitcoin dropped almost 7%, losing about $3,000 and the $45,000 mark. The top coin was quickly followed by major and lesser cryptocurrencies.
Specifically, Shiba Inu, the second-biggest meme-based cryptocurrency, fell 20.37% and hit $0.00000867 earlier today. It has gained 4.37% thus far. SHIB fell by more than 14% on the day the story was published.
With just two days to go until Wednesday, January 10, the SEC is expected to approve all 11 Bitcoin spot ETF issuers, according to James Seyffart, an ETF analyst at Bloomberg.
New whale grabs half-trillion SHIB
A new whale bought an incredible 546.34 billion Shiba Inu on the Binance exchange earlier today, according to a recent tweet from the @lookonchain blockchain detective. The whale made the purchase within the previous hour.
The withdrawal was conducted in two large transactions totaling around $5 million: 400,000,000 and 136,342,102,182 SHIB.
