With the price of the Shiba Inu-SHIB falling from the previous session's highs, traders are shifting their IPO investments into a new Bitcoin-inspired coin called 99Bitcoins (99BTC) for potential returns of up to 1,000%.

Earlier today, the price of the SHIB coin rose, recording $0.000029, its highest level since the beginning of last April, and the Shiba Inu - the second largest meme in terms of market value - also rose by more than 12% since the beginning of this week.

The upward momentum dominated the price movement of the Shiba Inu coin - which is compatible with the ERC-20 standard on the Ethereum blockchain - thanks to expectations for the growth of the Ethereum technical system following the approval of the establishment of Ethereum Spot ETFs on the exchange (Ethereum Spot ETF).

The establishment of these funds is expected to lead to significant liquidity entry thanks to new institutional investments, which could be positive for meme currencies built on the Ethereum blockchain such as Shiba Inu and PEPE.

While the future prospects and technical analyzes of the SHIB currency’s path remain in favor of the upward trend, the currency was able earlier during the month of May to break free from its downward trend that had extended for several months, and resumed its rise, with its chart indicating the possibility of reaching its highest levels again in a year over 0.000045$.