SHIB Coin Expected to Rally This Week, Says Luckside Crypto
Despite a recent flat market, SHIB coin is anticipated to have a promising week of rallying, according to Luckside Crypto. The positive sentiment surrounding spot Bitcoin ETF approval and the upcoming news about the Coinbase case are contributing to the excitement in the market. The Coinbase case, which will be heard on January 17, has significant implications for the market as it involves allegations of violating national security laws and unregistered securities.
Impact of Coinbase Case on the Market
The outcome of the Coinbase case is expected to have a profound impact on the cryptocurrency market due to its current lack of clarity. The Securities and Exchange Commission (SEC) accuses Coinbase of selling unregistered securities and failing to register its staking program. Regardless of the verdict, analysts agree that the consequences will be significant.
Bitcoin Market and SHIB Coin Trend
Luckside Crypto notes that the Bitcoin market is rebounding towards $43,000 after experiencing a 7.9% decline in the last seven days. Meanwhile, Shiba Inu (SHIB), an Ethereum-based memecoin, remains at $0.0000096 but shows signs of an upward trend. The analyst finds this development exciting and predicts a positive week of rallying ahead.
Shifting Institutional Attitudes
Institutional attitudes towards cryptocurrencies are also evolving. Vanguard recently blocked the purchase of spot Bitcoin ETFs on its platform but is likely to change its stance once it realizes the potential fees it could earn. Therefore, it is only a matter of time before institutions embrace cryptocurrencies.
Anticipating Uptrend from Coinbase Case Announcement
Luckside Crypto expects a positive uptrend in the market following the announcement of the Coinbase case outcome. However, it is likely that the market will remain flat in the short term as it absorbs GBTC and FTX estate selling.
Hot Take: SHIB Coin Primed for a Rally
With positive market sentiment, the upcoming Coinbase case, and a potential shift in institutional attitudes, SHIB coin is poised for a rally this week. Despite recent market stagnation, Luckside Crypto predicts an exciting period ahead for SHIB coin and encourages investors to stay optimistic about its upward trend.
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