Shiba Inu's price chart shows it has been consolidating below a major zone on the daily time frame, leading to confusion about its next move. Here are the key developments and market sentiments that could influence its direction:
Current Market Status:
- Shiba Inu (SHIB) trades at approximately $0.00001709.
- Price decreased by 1.7% in the last 24 hours.
- Still recovering from a 32% plunge in June.
Positive Developments:
1. Kronos Advanced Technologies Inc. Acceptance:
- U.S.-based air purifier company now accepts SHIB as payment.
- Announcement made in a June filing with the U.S. Securities and Exchange Commission (SEC).
- Approximately 1.38 million wallets hold SHIB as of 2024, indicating widespread popularity.
2. Promotion by Kronos:
- Limited-time 10% discount on air purifiers for customers paying with SHIB.
- Seen as a significant step towards broader crypto adoption.
3. Coinbase Announcement:
- Filed with the U.S. Commodity Futures Trading Commission (CFTC) to list a new Shiba Inu futures product.
- Expected launch date for trading is July 15.
- Aims to provide additional risk management and participation opportunities in the crypto economy with lower upfront capital requirements.
Community Sentiment:
- Positive outlook due to historical resilience and new developments.
- Viewed as enhancing Shiba Inu's appeal beyond its meme origin.
Conclusion:
Despite recent price challenges, Shiba Inu's new acceptance by Kronos and the upcoming futures product on Coinbase contribute to a hopeful outlook among investors and enthusiasts.
