Now, the price of Shibainu has risen by 11%, including the expected increase in Shibainu trading funds and trading activities.

Shibainu is worth as much this year as it was in early April. In the past 24 hours, Shibainu has gained 11% and has increased 7% in the past week. At press time, Shibainu is worth $0.00002881.

The reason for the rise in the value of Bo is many factors. One key event that caught the attention of the crypto community was the large number of transactions made by fish in the Bocoin market, especially for Bo and Bo.

Money flows into SHIB

For example, Lookonchain previously drew attention to an anonymous fisherman who moved investments from the pepe-themed Shiba Inu token. Initially holding 1.97 trillion pepe tokens, worth more than $607 million, the investor deposited them on Binance and realized a profit of $349 million.

Smart deposited $19.7K PEPE ($607M) into #Binance, earning $349M. He then switched from $PEPE to $SHIB and withdrew $75.9M SHIB ($893M) from#Binance3 hours ago.

Subsequently, FISH acquired approximately $75 billion of SHIB for $89.3 billion, moving those assets to an undisclosed wallet. This significant shift from PEPE to SHIB highlights investor confidence, a trend that some market observers speculate could resume, which has contributed to the recent SHIB rally.

Speculative SHIB Exchange

Amid these market dynamics, discussions around the potential for a SHIBAO-themed exchange-traded fund (ETF) have gained traction. Following the SEC’s approval of an Ethereum spot ETF, Shytoshi Kusama, SHIBAO’s lead developer, inquired about the feasibility of a SHIBAO ETF.

Although no formal proposal has been made by the financial institution, enthusiasm in the community remains high. In addition, Grayscale is launching a petition calling for a SHIB ETF, which has almost reached its goal of 10,000 signatures, indicating strong community support for the initiative.

Trading volume increased

According to Crypto Basics, cryptocurrency data shows that SHIB trading volume has increased significantly, with more than 5.354 trillion worth of currency traded yesterday, worth more than $13.2 billion.

According to reports, the trading volume increased by 169% compared to the previous day. The increase in trading volume was reportedly mainly attributed to the large number of fish transactions. On the other hand, IntoTheBlock reported a relatively low trading volume on May 27, totaling only 6,390 transactions.

The report also noted a sharp rise in large transactions, with 2,605 transactions worth between $1,000 and $10 million taking place yesterday, compared to 1,595.5 the day before, with Shibainui transactions involving at least $1 million totaling about $9.104 billion, indicating an increase in large investors’ participation in the market.