Renowned full-time crypto trader “Blockchainedbb” has underscored Shiba Inu as a prime asset to hold in anticipation of Bitcoin’s expected surge to $75,000.
This perspective was shared by the pseudonymous analyst in a recent post on X. Notably, this commentary emerged in response to news that Coinbase, the largest exchange in America, is seeking to introduce futures contracts for Shiba Inu.
Shiba Inu Identified as a Top Hold
Last week, Coinbase submitted filings for five new futures products to the U.S. Commodity Futures Trading Commission (CFTC), including one linked to SHIB, with trading set to commence by July 15.
Coinbase believes that adding a Shiba Inu futures product offers users additional avenues to manage risk and participate in the crypto market with lower initial capital. This expansion is viewed by Coinbase as a means to diversify its product range and enrich user trading experiences.
This initiative from the leading U.S. crypto exchange has sparked considerable bullish sentiment within the crypto community, notably among the SHIB Army. Blockchainedbb is among the latest analysts to express optimism about Shiba Inu’s future price prospects amidst these developments.
The analyst specifically pointed out that such developments make SHIB one of her top recommendations ahead of Bitcoin’s projected surge to $75,000. According to Blockchainedbb, Shiba Inu plays a crucial role in unlocking retail liquidity for exits, positioning it as an appealing asset during the anticipated price surge.
Blockchainedbb’s recent sentiment echoes her earlier statement that Shiba Inu is a straightforward asset for investors aiming to expand their portfolios.
Acquiring Shiba Inu Before Bitcoin’s Rally to $75k
Meanwhile, during the discussion, a crypto enthusiast inquired about purchasing Shiba Inu at its current market value. Blockchainedbb advised that joining the trend now, with SHIB trading at around $0.000017, is prudent rather than waiting for potentially missed opportunities at lower prices.
However, the analyst cautioned that altcoins like SHIB could see lower prices if Bitcoin corrects and falls back to $58,000. Nonetheless, Blockchainedbb suggested that acquiring SHIB through the spot market remains a secure option, foreseeing a likely rebound after any dips, especially considering the risks associated with leveraged long positions.
Notably, during Bitcoin’s rally to an all-time high above $73,000 in March, Shiba Inu significantly benefited from the bullish trend. Approximately two weeks before Bitcoin reached its ATH, SHIB surged nearly 400%, reaching $0.00004534 in early March, surpassing its three-year high.
Analysts anticipate a resurgence of this aggressive bullish momentum, potentially propelling Shiba Inu into the $0.0001 range. At the time of writing, Bitcoin is hovering around $62,800, while SHIB is trading at $0.00001713. Notably, SHIB would need to increase by approximately 20% to reach a new ATH of $75,000.
Disclaimer: This content serves informational purposes only and should not be construed as financial advice. The opinions expressed herein, including those of the author, do not necessarily reflect The Crypto Basic’s viewpoint. Readers are advised to conduct their own research before making investment decisions, as The Crypto Basic is not liable for any financial losses incurred.