Shiba Inu’s marketing lead, Lucie, recently hinted that an altcoin season is on the horizon. This period typically sees increased activity and rising prices for alternative cryptocurrencies like SHIB. She made this assertion in response to BlackRock’s new promotional video for its iShares Ethereum Trust ETF (ETHA).
In the video, Jay Jacobs, BlackRock U.S. Head of Thematic and Active ETFs, highlighted Ethereum’s unique features. He likened Ethereum to a global platform for decentralized applications, noting the growing demand for ETH. To meet this demand, BlackRock introduced the iShares Ethereum Trust ETF, providing investors exposure to the second-largest cryptocurrency.
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Launch Of BlackRock’s ETH ETF
BlackRock, among eight issuers approved by the SEC to launch a spot-based ETF for Ethereum, commenced trading its ETH ETF yesterday at 09:30 AM (EST). Impressively, it hit $22.5 million in volume within the first 15 minutes of trading.
Reacting to the promotional video, Lucie pointed out that despite increasing interest in crypto, critics continue to spread FUD (Fear, Uncertainty, and Doubt). However, she believes BlackRock’s Ethereum ETF video aims to attract potential investors amidst this panic. Consequently, Lucie urged crypto investors to think big, asserting that the altcoin season is imminent.
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Crypto investors eagerly anticipate this cycle’s altcoin season, which could lead to price spikes in digital assets other than Bitcoin, such as Shiba Inu. During the 2020/2021 altcoin season, Shiba Inu’s price skyrocketed, rallying millions of percent to an all-time high of $0.00008845 on October 28, 2021.
Positive Speculation And Bullish Predictions
Unlike the previous season, the market now has more positive events. Experts speculate that the introduction of ETFs could usher in the largest altcoin season, with funds flowing from traditional finance into the altcoin market via Ethereum spot ETFs. Meanwhile, experts have released bullish predictions for altcoins, including ETH and SHIB.
For SHIB, projections suggest the dog-themed token could surpass its ATH, reaching new records between $0.0001 and $0.001 during the imminent altcoin season. Whether Shiba Inu will hit these targets by the end of the 2024/2025 altcoin season remains to be seen.
