Altcoins
SHIB Team Says: Altcoin Season Is Coming
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The social media marketing expert of the SHIB team, known to the community as Lucie, posted a tweet in which she conveyed a bullish message about altcoins to the Shiba Inu army.
“Altcoin Season Coming”
Now that Ethereum spot ETFs are about to start trading, Lucie believes this will be positive not only for Ethereum, but also for the price of SHIB.
Lucie shared a video advert made by BlackRock for the spot Ethereum ETFs that its iShares fund is launching. Lucie commented: “BlackRock launches Ethereum ETFs video for investors.”
The SHIB team marketer believes that after 11 Ethereum ETFs start trading on exchanges later today, this significant event will gradually trigger an altcoin season, which will be beneficial for many altcoins, including Shibarium ecosystem tokens SHIB, BONE, LEASH, and SHEB. “THINK BIG: Altcoin season is coming,” Lucie tweeted.
Ethereum, which emerged in 2015 and was developed by Vitalik Buterin along with other computer engineers, became the first launch platform for other cryptocurrencies and smart contracts, something that Bitcoin did not offer since all the mysterious Satoshi Nakamoto wanted to achieve was to create a decentralized P2P cryptocurrency after the 2009 mortgage market crisis, which hit banks and the global financial system hard.
Therefore, the massive expansion of Ethereum, its wider acceptance by Wall Street, the expected massive capital inflows and thus the corresponding price increase will likely have a positive impact on the altcoin market, at least on major altcoins, including Shiba Inu (SHIB).
Related
The burning rate of SHIBs increases
Explorer Shibburn has reported a significant increase in the removal of SHIB meme coins from the circulating supply over the past 24 hours. Shibburn is reporting daily, weekly, and monthly Shiba Inu burns on his X account and website.
In the last 24 hours, according to this data source, the SHIB community has managed to dispose of 60,380,203 SHIB. These burns have pushed the entire Burn rate increased by 482.88% compared to the previous day.
As for the weekly burn, 135,026,217 Shiba Inu meme coins have been burned in a virtual furnace over the past seven days so far. At the time of writing, SHIB is trading at $0.00001731, after a slight dip earlier today.