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Kamala Harris Accepting Shiba Inu for Campaign Donations

Mark Brennan
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Kamala Harris Accepting Shiba Inu for Campaign Donations

The Kamala Harris campaign has started accepting Shiba Inu and other cryptocurrencies as donations for the upcoming November election.

In a surprising twist, the Kamala Harris camp has started accepting cryptocurrency donations to fund their November election expenses. The Vice President will receive remuneration in SHIB, among other notable digital assets.

Coinbase’s chief financial officer, Alesia Haas, told Fortune magazine Wednesday that the Future Forward political action committee (PAC) will oversee donations through the Coinbase Commerce. In addition to SHIB, Coinbase Commerce will accept donations in Bitcoin, Ethereum, Apecoin, Dogecoin, Litecoin, DAI, USDT, USDC, and MATIC.

The SHIB inclusion enhances the asset’s growing prominence in the cryptocurrency space. It also reiterates SHIB’s underlying acumen to be an option in broader payment systems and transactional settlements.

A Crypto Win?

Harris’ acceptance of cryptocurrency donations could confirm the Vice President’s camp’s changing attitude toward digital assets. Although Harris’ advisor stated that the Democratic presidential candidate is interested in the cryptocurrency sector, she has yet to mention her plans for digital assets in her campaigning activities.

However, Haas stated that the latest twist is a win for the crypto sector. According to a Fortune report, she insinuated that the United States could be gearing toward regulatory clarity regardless of who wins the November election. 

Meanwhile, former president Donald Trump has been more resolute aboout his stance for the crypto industry. He has publicly promised to create a conducive environment for digital innovations like cryptocurrencies, starting with firing SEC Chair Gary Gensler. If Harris makes a similar commitment, the crypto sector could be assured it will blossom regardless of the outcome of the presidential election.

Crypto-backed PAC Election Influence

Recently, super PACs endorsed by cryptocurrency firms have increasingly influenced election outcomes. Data shows a 94%-win rate among candidates supported by super PACs backed by crypto projects as of June.

In June, Fairshake supported pro-crypto nominees in the House and Senate. The PAC got donations surpassing $100 million and oversaw the election of 32 of the 34 candidates it backed.

Notably, the crypto sector is responsible for a chunk of funds donated by corporate firms. The industry has backed pro-crypto candidates with more than $119 million, about 48% of the $248 million donated by the private sector.

Expert Says XRP Holders Need Not Worry About Kamala Harris’s Capital Gains Tax

Sam Wisdom Raphael
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Expert Says XRP Holders Need Not Worry About Kamala Harris’s Capital Gains Tax

Crypto YouTube channel Altcoin Daily takes a dig at XRP, insisting investors holding the asset need not worry about the capital gains tax proposed by Kamala Harris.

The channel, run by brothers Austin and Aaron Arnold, said this in a recent post, spotlighting cryptocurrencies that have continued to underperform in recent times despite the rest of the market recording occasional gains.

Harris Proposes 28% Capital Gains Tax

For context, U.S. Democratic presidential candidate Kamala Harris on Wednesday supported the capital gains tax proposed by President Joe Biden in the budget for the 2025 fiscal year. However, Harris softened the proposed rate from 39.6% to 28%.

Notably, this tax applies to families who boast at least $1 million in annual income. Despite the softening, the crypto community, which has remained cautious of Harris’s stance, expressed concerns about the proposed tax scheme.

Altcoin Daily Takes a Dig at XRP

Amid these concerns, the Altcoin Daily channel believes holders of XRP and five other crypto assets might not feel the impact of the tax. For the uninitiated, the government levies a capital gains tax on the profit an investor gets from selling assets at a price higher than their original purchase cost.

Altcoin Daily on X
Altcoin Daily on X

Altcoin Daily’s commentary suggests that XRP and the five other crypto assets on its list would not yield any gains for investors that would require taxes. Besides XRP, other assets on the list include HEX (HEX), Litecoin (LTC), Bitcoin Cash (BCH), JasmyCoin (JASMY) and EOS (EOS).

Notably, like XRP, some of these assets have underperformed despite the bull run. XRP, in particular, began the year at a price of $0.6155, but now trades for $0.5541. This represents a disappointing 9.97% drop year-to-date (YTD).

XRP Underperformance

XRP’s current value is also an 83% collapse from its all-time high of $3.31 in January 2018. Its inability to record a new ATH during the previous bull run in 2021 has also raised concerns. Consequently, market Veteran Raoul Pal advised investors to consider other options to avoid missing out on this bull run.

Despite the ongoing underperformance, some market analysts remain confident in XRP’s potential. They suggest that with the conclusion of the SEC lawsuit, which exerted legal pressure on XRP, the asset could now break out of its multi-year consolidation.

For instance, market commentator EGRAG recently asserted that XRP could record its breakout and hit a market top by September 2025. In response to inquiries on his price targets, he pointed to $10, $13, $17 and even $24.

Meanwhile, currently trading for $0.5541, XRP is down 2.26% this month. Nonetheless, this drop is due to the broader market struggles. In fact, XRP has shown greater resilience than Bitcoin (BTC) over the past five days, which is down 3% this month.

MetaMask Users Can Now Interact with Cardano

Lele Jima
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MetaMask Users Can Now Interact with Cardano

Leading Ethereum wallet MetaMask announces support for Cardano wallet Snap, a solution developed by Web3 self-custody wallet provider NuFi. 

Per a recent announcement, this integration will allow MetaMask users to interact with the Cardano blockchain. In particular, MetaMask users can leverage the solution to create Cardano accounts and interact with Cardano decentralized applications (dApps). 

The solution will also allow users to manage their Cardano native assets, including ADA and other tokens. This initiative, funded by Catalyst, simplifies the process of exploring the Cardano network for people already familiar with MetaMask. 

Cardano Wallet Snap Integration on MetaMask 

For context, the NuFi team used MetaMask’s Snap feature to integrate Cardano support into the popular Ethereum wallet. The Snap feature allows third parties to enhance MetaMask’s functionality by adding community-built extensions to the wallet. 

Through NuFi’s Cardano wallet Snap, users can generate Cardano keys from the MetaMask seed phrase. The feature allows MetaMask users to buy ADA with credit cards or exchange other assets for the Cardano native token. 

Adding Cardano Snap 

Adding the Cardano Wallet Snap to MetaMask does not require any technical expertise. The steps include installing the Snap, visiting the NuFi platform, and connecting MetaMask to the extended wallet. 

Upon adding the Snap, users will receive a Cardano Wallet and address, where they can receive funds to interact with Cardano dApps. 

Users can find their favorite Cardano decentralized application in the dApp directory and link it to their wallet. The NuFi widget serves as a bridge between MetaMask and the Cardano Wallet. 

As a result, all signed transactions must first be approved in the Snap and later confirmed in the MetaMask interface before a submission to the Cardano blockchain. It bears mentioning that the Cardano Wallet Snap is available on MetaMask version 12.0.0 and above. 

Cardano Sees Major Support Since Chang Hard Fork 

The development comes shortly after Cardano completed the Chang hard fork, marking the network’s move to the Voltaire era. Following the upgrade, Cardano has received enormous support from multiple crypto projects. 

As reported earlier, Cardano’s major rival, Polkadot, welcomed the project to on-chain governance. 

Furthermore, speculations have emerged that DexScreener, a prominent DEX analytics platform, might soon support Cardano. Popular Cardano community member “EL” said the DexScreener team is currently in discussion with Cardano-based decentralized exchanges, including Dex Hunter, Minswap, and Saturn Swap, regarding the upcoming integration. 

Bitcoin to Reach $200K, Anthony Scaramucci of SkyBridge Capital Makes Bold Prediction

Mark Brennan
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Bitcoin to Reach $200K, Anthony Scaramucci of SkyBridge Capital Makes Bold Prediction

Anthony Scarramucci emphasizes that Bitcoin is a store of value, arguing that it would close in on gold’s $17 trillion market cap.

SkyBridge Capital co-founder and managing partner Anthony Scaramucci has predicted that Bitcoin will hit $150,000 to $200,000 soon enough. In an interview with the Schwarb network, the crypto OG noted that this would happen as the number of Bitcoin wallets hits 1 billion.

Notably, Bitcoin wallets are currently on the rise amid a surge in adoption. Data from Chainalysis shows there were over 460 million Bitcoin wallets as of March 2024, with 10% of them holding at least $1. Further wallet analysis reveals that there are currently 78 million Bitcoin wallets with at least $1, showing an increased inclination to the asset.

Scaramucci noted that he sees Bitcoin trading at a market cap closer to gold. The SkyBirdge co-founder asserted that Bitcoin was a store of value like gold. As a result, its value should correlate with that of the precious metal.

Gold’s estimated market cap is $17 trillion, while Bitcoin’s is $1.12 trillion. According to Scaramucci, Bitcoin has further upsides, as its market cap and price would trend higher and closer to gold’s. For context, Bitcoin’s price would hit $863,000 if its market cap matches that of gold at the current circulating supply.

Scarramucci Rues Regulatory Hurdles

The former White House Communications Director also discussed the regulatory uncertainty in the US, affirming that it has hampered the growth of cryptocurrencies.

He noted that the Securities and Exchange Commission (SEC) boss, Gary Gensler, has resorted to the regulation-by-enforcement approach to digital assets. Scaramucci believes this approach has slowed down adoption, a view multiple crypto industry leaders hold.

Scarramucci pointed to the FTX implosion and the close relationship its indicted founder, Sam Bankman-Fried, had with Gary and Senator Elizabeth Warren as a possible cause of the incessant clampdown. However, the SkyBride co-founder noted that such actions were hurting good actors in the crypto space and the blockchain sector at large.

Stablecoins Could Keep Dollar’s Relevance

According to Scarramucci, the latest BRICS push to create supplementary currency and digital assets that could substitute the dollar would falter. He noted that if the US government upholds stablecoins like Tether’s USDT and Circle’s USDC, the dollar would have more utility worldwide and maintain relevance.

The stablecoin sector has grown significantly over the years, with major contributions from USDT. The exploits of the Tether-owned stablecoin have been reflected on its balance sheet, as it declared a record net profit of $5.2 billion in the first half of the year.

Scarramucci cited that Tether had more Treasury than top countries like Germany and Japan. Hence, the US regulator should leverage the growing sector to keep the dollar’s relevance alive.

Can AAVE Whales Break the Megaphone Pattern and Push Prices Above $145?

Albert Brown
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Can AAVE Whales Break the Megaphone Pattern and Push Prices Above $145?

With a bear cycle in the 4-hour chart, AAVE reveals potential drop chances to $115. Will buyers reverse the trend?

Amid a bear market, the volatility in the AAVE token price is increasing, and the DeFi token gives sharp moves this week. With a weekly price range of more than 10%, it fluctuates within a broadening wedge. 

Will buyers manage a breakout rally as the whale’s buying spree picks up pace?

AAVE Bull’s Trapped in a Megaphone 

With a market cap of almost $2 billion, the Aave token is trading at $130.07 with a 24-hour jump of 4.35%. However, in the 4-hour chart, the Aave token shows a broadening wedge or a rise megaphone pattern with constant support at $115. 

Despite the solid support, the bullish power struggles to surpass an overhead ascending trend line, leading to a stunted higher-high formation. The Aave price action reveals a higher price rejection near the overhead trend line. Thus, this results in an evening star pattern that breaks below the 23.60% Fibonacci level at $129.91. 

AAVE Price Chart
AAVE Price Chart

The crucial EMAs 50 and 200 in the 4-hour chart maintain a slightly bullish trend ready to provide dynamic support. The 200 EMA provides crucial support at $115. 

The MACD indicator shows a positive trend in the MACD and signal line, but a downtick warns of a bearish crossover as the negative cycle within the megaphone pattern begins. 

Founder Sell-off Meets Whale’s Buying Spree

The negative cycle correlates with the Aave founder, Stani Kulechov, selling off $6 million worth of Aave and continuing to hold $32.7 million worth of Aave tokens, which comes to about 243,900 Aave tokens. 

However, as the founder loses confidence, the Aave community grows on a buying spree. Two Aave whales have bought up $2.2 million worth of Aave tokens in the past two hours. 

Will AAVE Give A Breakout Rally?

With the growing confidence and the ongoing uptrend for the past few months, the Aave will likely surpass the overhead trend line and nullify the bearish pattern. Based on the Fibonacci levels, the overhead resistances are 38.20% and 50% at $138 and $145. 

On the flip side, the dynamic support at $125 of 50 EMA and the 200 EMA at $116 near the $115 support zone remain critical demand levels. A breakdown below $115 could test the psychological mark of $100.

Despite Two Big News, XRP Price Fails to React: What’s Going On?

Abdulkarim Abdulwahab
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In the past few months, Ripple has made numerous announcements about its business pivots, including entering the stablecoin market.

One of the latest updates came this week, with Ripple revealing plans to make the XRP blockchain more DeFi-friendly by introducing smart contracts to the XRP Ledger (XRPL).

However, the price of XRP during these crucial announcement periods has been relatively stable. It has remained largely within the same range, around $0.5. 

Numerous community members have noted this trend, but attorney Bill Morgan has added a new twist to the observation. 

XRP Price Not Reflecting Ripple’s Effort

Morgan pointed out that these major milestones from Ripple have not led to noticeable changes in XRP’s price. In parallel, he questioned Ripple’s influence on the asset’s value, particularly whether XRP holders can have a “reasonable expectation of profits” based on Ripple’s efforts under the Howey test, which determines if an asset qualifies as a security.

Notably, Morgan’s remarks touch on a key aspect of Ripple’s legal battle with the SEC. The regulator had argued that XRP is a security based on one of the prongs of the Howey test, which focuses on the expectation of profit from the efforts of others. 

This is central to the SEC’s case, especially when considering Ripple’s past sales of XRP and its distribution to institutions. However, Morgan questions whether such an expectation of profit is even rational after years of XRP price fluctuations that appear disconnected from Ripple’s direct actions. 

“I would question whether such an expectation is rational,” he noted.

XRP Price Follows Broader Market Sentiment

In a follow-up comment to his post, Morgan expanded on his view. He stressed the decentralized nature of the XRPL and the broad, global ecosystem supporting XRP. 

Specifically, he argued that XRP’s long-term price movements are driven by numerous factors beyond Ripple’s control, with the asset’s value largely following broader market sentiment.

This decentralization challenges the SEC’s attempt to argue that XRP investors rely on Ripple’s efforts for profit, a key point in their legal case.

Notably, Ripple successfully defended against the SEC’s argument during the legal proceedings. The court granted victory to Ripple and XRP when it ruled that XRP itself is not a security, although certain contracts related to its sale could be.

“It’s no surprise the SEC’s expert on the ‘efforts of others’ factor in the Howey test, who never spoke to an XRP holder, blew up in its face. It was pure unreality,” Morgan concluded.

Cardano Founder Confirms ADA Holders Will Not Lose Staking Rewards for Abstaining from Voting

Mark Brennan
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Cardano Founder Confirms ADA Holders Will Not Lose Staking Rewards for Abstaining from Voting

Charles Hoskinson disclosed this in response to emerging concerns within the Cardano community following the Chang hard fork.

The Cardano blockchain recently underwent a significant change with the implementation of the Chang hard fork on Sept. 1, 2024, bringing the network into the Voltaire era.

This shift introduced new on-chain governance mechanisms, allowing users to participate in decision-making through delegated representatives (DReps) and other options.

However, the change also triggered concerns within the community about whether ADA holders would need to participate in governance to continue receiving staking rewards.

To address these concerns, Cardano’s founder, Charles Hoskinson, has confirmed that users who do not wish to engage in governance activities will not lose their staking rewards. 

Cardano Governance Participation Now Offers More Choices

According to Hoskinson, the introduction of the Chang hard fork brought new choices for ADA holders regarding their level of involvement in on-chain governance. 

In addition to the traditional stake delegation model, users now have the option to delegate their voting rights to a DRep, cast a vote of no confidence, or simply abstain from participating in governance.

Hoskinson emphasized that abstaining from voting will not penalize users in any way. ADA holders who choose not to participate in governance can still continue delegating their stake to a pool and receive staking rewards, as was the case before the hard fork. 

The only difference now is that those who wish to engage in governance have additional options to express their views on the future direction of the network.

The Cardano founder stressed that for users who want a simplified experience, wallet providers like Lace are incorporating user-friendly interfaces that automatically select the “abstain” option for those who only wish to delegate their ADA without engaging in governance. 

This ensures that the user experience remains seamless for those uninterested in governance decisions while still benefiting from the Cardano staking system.

Understanding the Voting Options

With the Voltaire era’s governance system, ADA holders can now choose one of three primary options when it comes to staking and governance:

  • Abstain: This option allows users to delegate their ADA without participating in governance. By selecting abstain, users choose not to vote on governance proposals, yet they will continue to receive staking rewards.
  • Vote of No Confidence: By choosing this option, users automatically vote “yes” on any no-confidence governance actions and “no” on other governance proposals. This provides a way to express disapproval of the governance system without engaging in every individual vote.
  • Delegate to a DRep: Users can choose to delegate their voting rights to a decentralized representative (DRep), who will vote on their behalf. This option is for those who wish to participate in governance without directly managing the voting process themselves.

Cardano Founder Continues to Dispel Misconceptions

Prior to Hoskinson’s clarification, some members of the community were concerned that staking rewards might become contingent on active governance participation. 

This misconception arose from early discussions surrounding CIP-1694, the Cardano Improvement Proposal that outlined the governance changes. 

There was speculation that users who did not vote would forfeit their staking rewards, which caused concern among ADA holders who preferred a more passive role in the ecosystem.

Hoskinson has been persistently dispelling these misconceptions. In June, he clarified that the new governance options simply provide more flexibility, allowing users to tailor their participation to their preferences.

New Motion in Ripple v SEC Lawsuit Hints at Potential Appeal

Lele Jima
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New Motion in Ripple v SEC Lawsuit Hints at Potential Appeal

The Ripple legal team files a new motion with respect to the SEC lawsuit, requesting a stay on the monetary portion of Judge Analisa Torres’ August 7 ruling. 

The team filed the motion yesterday in a New York federal court, with seasoned defense lawyer James K. Filan sharing the document on X.

SEC and Ripple Agree to Delay Fine Payment 

According to the motion, Ripple disclosed that the SEC agreed with its request to stay the monetary portion of the August 7 ruling, which requires the crypto payments company to pay a fine of $125 million before a September 6 deadline. 

Ripple’s lawyers stated that the firm has agreed with the SEC to delay this payment. Ripple suggested moving 111% of the fine amount (worth $138.75 million) to its legal team’s bank account as security. 

The funds will be held in the account until 30 days after the time to appeal expires. While Ripple will retain financial ownership of the funds, the company will have no control until the stay is concluded.

The motion specified that one of Ripple’s lawyers, Kellogg Hansen, will ensure the funds remain in the account until released by the court or mutual consent between the parties. This move ensures that the funds are used to satisfy the monetary portion of the August 7 judgment or released if the judgment is reversed in the Second Circuit. 

“Should the court of appeals vacate or modify the Judgment, the parties will attempt in good faith to reach agreement about the appropriate treatment of the Fund and will submit to the Court any disputes that they cannot resolve,” an excerpt from the motion read. 

Parties Lay Groundwork for an Appeal  

The recent filing suggests that the parties are making the necessary preparations for a possible appeal. Since Judge Torres issued the final judgment on August 7, none of the parties has revealed plans to appeal. 

Recall that Ripple expressed satisfaction with the monetary portion of the judgment. However, the company did not comment on the injunction imposed on its future XRP sales to institutional clients. Also, it is uncertain whether the SEC will take the appeal route. 

In the meantime, the clock is ticking for any of the parties to file an appeal notice. Following the court’s final judgment, the parties had 60 days to appeal any portion of the ruling. At the moment, the parties have exhausted nearly a month without indicating whether they plan to appeal.

SEC Hasn’t Decided to Appeal 

Meanwhile, pro-XRP lawyer Jeremy Hogan speculated that the SEC has not decided to appeal.  

The top lawyer explained that filing an appeal notice takes about 15 minutes. According to Hogan, once the SEC files the appeal, it has 70 days to submit the actual brief.

He added that if the SEC had already decided to appeal, there would be no reason for the agency to delay filing the notice. Currently, nothing is confirmed from both fronts.

Analyst Predicts Timeline For XRP to Reach Its Market Top

Sam Wisdom Raphael
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Analyst Predicts Timeline For XRP to Reach Its Market Top

Market analyst EGRAG has recently analyzed XRP’s potential price movements, predicting a timeline for when it can reach its market top.

The prominent market watcher based his analysis on an examination of historical price cycles and patterns observed in XRP’s performance over the years. Notably, the latest analysis came up as a review of an earlier report.

Initial XRP Analysis

In the earlier analysis, EGRAG drew attention to two distinct cycles in XRP’s history, labeled Cycle A and Cycle B. He predicted a significant upward movement in XRP’s price, culminating in a potential market top in 2025 after comparing the durations of these cycles and their respective market behaviors.

The accompanying chart at the time highlighted the duration and structure of Cycle A, which spanned approximately 1,492 days from peak to peak, leading to a new all-time high (ATH) for XRP. 

Image

This cycle, starting in 2013 and concluding with a major rally in early 2017, features a consolidation phase followed by a sharp breakout. EGRAG suggested that the ongoing cycle might mirror this pattern, with XRP potentially entering a similar consolidation phase before a strong upward movement. 

According to the previous analysis, the analyst asserted that if history repeats itself, XRP could experience a new ATH around May 2025, marking the end of this predicted Cycle A.

Updated View

However, in the updated report shared recently, EGRAG introduced a variant perspective. This new perspective measured the cycle from XRP’s inception rather than from the peak. 

This new approach extends the timeline slightly, suggesting that the market top could occur around September 2025. The alternative view considers a longer duration of 1,614 days, indicating that the current cycle might take longer to reach its climax compared to the first cycle.

While the exact timing may vary, the thesis remains consistent: XRP is likely in the midst of a prolonged consolidation phase, which could lead to a significant price surge in the coming years.

In response to inquiries about his specific price target for September 2025, EGRAG pointed to his other charts for more detailed projections. He indicated that the primary target lies around $6.40, based on the Fibonacci 1.618 level.

EGRAG further suggested that XRP’s price could extend beyond this primary target, potentially reaching higher levels like $10, $13, $17, and even a blow-off top at $27. In March, the analyst stressed that the $27 target remains a possibility despite multiple comments suggesting it might be too ambitious.

Here’s How Shiba Inu Can Reach $0.0010 or $0.0019 After SHIB ETF Approval 

Lele Jima
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Here’s How Shiba Inu Can Reach $0.0010 or $0.0019 After SHIB ETF Approval 

Shiba Inu has the potential to reach the ambitious $0.001 price territory if a spot-based SHIB ETF receives a significant level of adoption.  

Following the launch of Bitcoin and Ethereum spot ETFs, Shiba Inu community members have been calling on asset managers to roll out a similar product for SHIB. 

Community Pushes for Spot SHIB ETF 

These Shiba Inu proponents contend that SHIB has everything it takes to get an ETF tied to the asset. In particular, they claimed that the U.S. SEC has never labeled SHIB a security, strengthening the token’s prospects of securing an ETF. 

Interestingly, these enthusiasts have strengthened their demand for a SHIB ETF by petitioning leading crypto asset manager Grayscale Investments. As this demand continues to gain momentum, some enthusiasts wonder how an ETF product could impact SHIB’s price. 

The impact of a spot Shiba Inu ETF on SHIB’s price depends on the level of adoption the product receives. For instance, Bitcoin has witnessed significant gains since the SEC approved multiple Bitcoin spot ETFs on January 10. The surge stems from the net inflows these ETFs have generated since January 10, totaling $17.6 billion as of August 30, according to data from Farside. 

SHIB’s Price If It Receives 50% of Bitcoin Net Inflows 

If Shiba Inu gets a spot ETF and records 50% of Bitcoin ETF net inflows, its inflow would amount to $8.8 billion. According to a recent report, Bank of America (BoA) estimated that Bitcoin ETF inflows would have a more significant impact on BTC’s price. 

The banking giant estimated the impact to be around 1:118 for Bitcoin. This indicates that BoA expects Bitcoin’s market cap to increase by $118 billion for every $1 billion worth of inflow into the product.  

Using this estimate for Shiba Inu, a hypothetical inflow of $8.8 billion, assuming SHIB’s potential ETF captures 50% of Bitcoin spot ETF net inflow, could translate to a market cap of approximately $1.04 trillion. Adding this figure to Shiba Inu’s current market cap of $8.21 billion would bring SHIB’s valuation to $1.12 trillion. 

Supposing Shiba Inu’s circulating supply remains relatively stable at 589.27 trillion, a market cap of $1.12 trillion would translate to a price of $0.0019. This represents a surge of 13,500% from SHIB’s current price of $0.00001397. 

Shiba Inu’s Price If It Gets 30% of Bitcoin Spot ETF Inflows 

Meanwhile, Shiba Inu’s potential ETF could record an inflow of $5.28 billion if it captures 30% of Bitcoin’s net inflow. Applying the BoA’s estimate to the $5.28 billion inflow could lead to a market cap of $623.04 billion for Shiba Inu. 

In this hypothetical scenario, Shiba Inu’s valuation would increase to $631.25 billion after adding the figure to the current market cap. At a market cap of $631.25 billion, Shiba Inu’s price would increase to $0.001071 per token, assuming the circulating supply remains fairly stable at 589.27 trillion. This marks a massive surge of 7,566% from Shiba Inu’s current price. 

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