Shiba Inu Down 5% But Could An ETF Be In The Works?

Shiba Inu (CRYPTO: SHIB) is going through a strong correction, leading traders to watch for potential support levels and bullish reversal catalysts.

Trader Notes: Crypto analyst Ali Martinez expects Shiba Inu to find support at $0.000012 or $0.0000094, potentially setting up for a bounce.

Rose Premium Signals predicts that a breakout above these levels could fuel a rally toward $0.00004401, provided buyers step in at key resistance zones.

Statistics: Shibburn data shows 26.6 million SHIB were burned in the past 24 hours, pushing the burn rate to 132.4 million SHIB in the past week. Around two hours ago, 10 million SHIB coins were removed from the ecosystem in a single transaction.

IntoTheBlock data shows Shiba Inu large transaction volume slowed by 27.9%, while daily active addresses grew by 11.8%. Transactions greater than $100,000 dropped from 83 to 79 in a single day.

Community News: Lucie, Shiba Inu's marketing lead, hinted at a potential SHIB ETF in her latest post on X on Thursday, fueling speculation about institutional adoption.

Meanwhile, in another post on the same date, Lucie also noted that Ethereum's Pectra upgrade will allow SHIB, BONE and TREAT to be used for gas fees. Shibarium is expected to benefit from lower transaction costs, faster processing and improved scalability.

While usage remains uncertain, the Pectra upgrade aims to enhance efficiency, security, and affordability, strengthening the Ethereum ecosystem for SHIB holders.

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