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The social media marketing expert of the SHIB team, known to the community as Lucie, has published a tweet, in which she delivered a bullish altcoin message to the Shiba Inu army.
"Altcoin season coming"
Now that spot Ethereum ETFs are about to start trading, Lucie believes this is going to be good not only for Ethereum but for the SHIB price as well.
Lucie shared a video advertisement made by BlackRock for the spot Ethereum ETFs that its iShares fund is launching. Lucie commented on this: “BlackRock drops Ethereum ETF video for investors.”
The marketing expert of the SHIB team believes that after 11 Ethereum ETFs begin to trade later today on stock exchanges, this significant event will gradually trigger an altcoin season, which will be beneficial for many alts, including Shibarium ecosystem tokens SHIB, BONE, LEASH and SHEB. “THINK BIG – Altcoin season is coming,” Lucie tweeted.
Ethereum, which emerged in 2015 and was built by Vitalik Buterin along with other IT engineers, became the first launchpad platform for other cryptocurrencies and smart contracts – something 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.
Hence, the massive expansion of Ethereum, its wider acceptance by Wall Street, expected massive capital inflows and then a corresponding price surge are likely to have a positive impact on the altcoin market – at least on leading altcoins, which include Shiba Inu (SHIB).
Yuri MolchanSHIB burn rate surges
The Shibburn explorer has reported that over the last 24 hours, a significant increase has been made in removing SHIB meme coins from the circulating supply. Shibburn reports daily, weekly and monthly burns of Shiba Inu on its X account and website.
Over the last 24 hours, according to this data source, the SHIB community has succeeded in disposing of 60,380,203 SHIB. These burns have propelled the overall burn rate up 482.88% compared to the previous day.
As for weekly burns, so far 135,026,217 Shiba Inu meme coins have been destroyed in a virtual furnace in the past seven days. As of this writing, SHIB is trading at $0.00001731, after the minor decline it faced earlier today.
Arman Shirinyan
Alex Dovbnya