Shiba Inu Surges 21% After Regulatory Wins

Shiba Inu's price has been trending upward over the last month, rising 21% as of September 18. The meme coin peaked in 2021 but still holds a market cap of around $3 billion and remains one of the rare exceptions to the typical meme coin trend.

The regulatory environment for Shiba Inu has improved with its classification by the SEC as a digital commodity, alongside 15 other major cryptocurrencies, including Bitcoin and Ethereum. This classification means exchanges can offer Shiba Inu trading without fear of lawsuits over listing or holding an unregistered security. Additionally, T. Rowe Price has filed with the SEC to launch an active crypto ETF that would hold eligible assets, including Shiba Inu.

Despite these regulatory wins, Shiba Inu remains a high-risk investment and its market cap is down 94% from its all-time high in 2021 and 60% over the past 12 months. The likelihood of it reaching $0.01, which would put its market cap at over $5 trillion, seems slim.