š¢ 3 Key Factors That Can Spark Shiba Inu Big Rally: š¤š¤š¤
š„Binanceās continued support of Shiba Inu, Coinbaseās regulated SHIB futures contract, and Grayscaleās mention of the asset could set the stage for a significant rally.Ā
Many investors have been disappointed with Shiba Inuās recent performance, which has caused a massive crash in the tokenās price. Last week, Shiba Inuās price crashed below $0.000017 for the first time in three months, hitting a low of $0.00001642 on June 24.Ā
Currently, SHIB is above the $0.000017 mark, with a unit trading at $0.00001719 at press time. This comes after the token witnessed a daily surge of 1.6%, according to data from TradingView.Ā
āļø3 Factors That Can Drive SHIB PriceĀ
Despite the slight rally, SHIB is still 61.53% below its March high of $0.000045. Nonetheless, three major factors can still pave the way for SHIBās potential rally.Ā
They include Binanceās continued support of SHIB, Coinbase Derivativesā upcoming regulated futures contract for Shiba Inu, and Grayscale spotlighting SHIB among the top 10 most valuable assets in the market.Ā
āļøBinance Continued Support of SHIBĀ
Recall that Binance delisted the SHIB/TUSD spot trading pair on June 28, citing low volume and liquidity. Consequently, some media outlets misconstrued the announcement to suggest that Binance was delisting SHIB from its platform.Ā
However, the Shiba Inu ecosystem teamĀ dismissedĀ this claim, clarifying that Binance was only removing one SHIB spot trading pair and not delisting the token completely. A further statement from the exchange also confirms that users can still trade Shiba Inu via other spot trading pairs. At press time, the exchange supported eight SHIB spot pairs, including SHIB/DOGE, SHIB/USDC, and SHIB/USDT.Ā
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