Crypto:
30349
Bitcoin:
$64.275
% 0.16
BTC Dominance:
%54.0
% 0.22
Market Cap:
$2.34 T
% 1.02
Fear & Greed:
63 / 100
Bitcoin:
$ 64.275
BTC Dominance:
% 54.0
Market Cap:
$2.34 T

Shiba Inu Team Stays Bullish on SHIB Despite Market Downturn: Here’s Why

Shiba, Shiba Inu, Nexo

The Shiba Inu team’s unwavering optimism in the face of recent market turbulence is boosting confidence within the SHIB community. This positive outlook stems from several key factors, including the anticipated approval of Hong Kong ETFs and a broader belief in the cryptocurrency market’s long-term potential.

Shiba Inu Market Lead Injects Optimism

While the broader cryptocurrency market experiences significant price swings, Lucie, Shiba Inu’s market lead, has maintained a reassuring stance. Her recent comments directly address concerns about a potential sell-off, emphasizing her faith in the market’s ability to bounce back.

In a recent post, Lucie stated: “Dips and dumps will happen even in a bull market, especially before the Hong Kong ETF or any other ETF comes into play.” This statement reflects her confidence in upcoming developments within the cryptocurrency landscape, particularly the highly anticipated approval of Spot Bitcoin and Ethereum ETFs in Hong Kong.

Hong Kong ETF Approval Fuels Excitement

The potential approval of Spot Bitcoin and Ethereum ETFs in Hong Kong, expected as early as April 15th, has sparked renewed optimism within the global crypto community, including SHIB holders. This development follows the successful launch of Spot Bitcoin ETFs in the United States, and its potential expansion into the Asian market is met with significant anticipation.

Market Volatility: A Double-Edged Sword

The crypto market’s inherent volatility is evident in the price fluctuations observed before the U.S. Spot Bitcoin ETF approval earlier this year. However, the Shiba Inu team’s recent remarks offer a counterpoint to the prevailing apprehension, highlighting the long-term potential despite short-term uncertainties.

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Shiba Inu Price: A Snapshot

At the time of writing, the Shiba Inu price has retreated by 11.94%, currently trading at $0.00002433. However, its daily trading volume has skyrocketed by 164.45% to $1.19 billion. This past day has seen the meme coin reach a high of $0.00002776 and a low of $0.00002233, further emphasizing the ongoing market volatility.

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