Shiba Inu's Price Soars 21% Amid Regulatory Wins
Shiba Inu's price has been trending higher over the last month after a year of declines. The cryptocurrency is one of the rare exceptions, with a market cap of about $3 billion and a price increase of 21% over the past month.
The SEC classified Shiba Inu as a commodity in March, and T. Rowe Price has filed for an ETF that could hold the meme coin among other cryptocurrencies. This regulatory win is expected to bring more institutional adoption to the token.
However, experts caution against investing in Shiba Inu due to its extremely high volatility and lack of clear upside potential. The token's price has been highly unpredictable, with occasional short upward runs that don't seem to stick. Even if it reaches $0.01, its market cap would be more than double the value of the entire crypto market.