In the latest crypto news, Shiba Inu (SHIB), the world's second-largest meme coin by market capitalization, has seen a surge of 5.75% in the last 24 hours. This significant increase is largely due to speculation surrounding the potential approval of the first Ethereum Exchange Traded Fund (ETF) spot.

The Ethereum ETF, if approved, could significantly impact the crypto market, potentially driving up the value of related cryptocurrencies, including meme coins like Shiba Inu. This speculation has led to increased trading activity and a subsequent rise in SHIB's value.

It's important to note that while speculation can drive short-term gains, the long-term stability of these gains is dependent on a variety of factors, including regulatory decisions and market sentiment. As always, investors are advised to conduct thorough research and exercise caution when trading in volatile markets.