The current encryption industry is full of exciting opportunities and challenges. From the recent market trends and news, we can see some positive signs. First, Stablecoin issuer Tether has issued 1 billion USDT on the Tron network, which means that incremental funds are entering the market, helping to stabilize the market. In addition, Bitcoin's short-term trend continues to maintain a trend of oscillating upward, and for future rebounds, we need to pay attention to whether the pullback can hold steady at $26,800.

The medium and long-term views remain unchanged. Everyone should remember two costs, one is the market holding cost of $25,000-26,000, and the mining cost price of $15,000-16,000. The market bottom will form between these two cost prices, and phased fixed investment can be made below the market cost price.

Everyone also needs to pay attention to the US Federal Reserve's September interest rate decision at 2 a.m. and Powell's speech at 2:30 a.m., which may determine the trend in the evening, so pay attention to the needle insertion. In addition, the Bitcoin adoption fund launched by Laser Digital, a subsidiary of Japan's largest securities firm Nomura Securities, has brought positive signals to the market. According to Laser Digital's survey, 96% of the interviewed investors believe that cryptocurrencies represent opportunities for investment diversification, indicating that institutional investors' interest in the cryptocurrency market is increasing.

The current focus of attention is when the Bitcoin spot ETF can be approved. Financial giants such as BlackRock, Grayscale, Valkyrie, and Fidelity have applied to regulatory agencies. Once approved, the Bitcoin spot ETF is expected to attract a large amount of funds into the encryption industry, thereby driving the return of the bull market. According to a research report by the Wall Street investment bank Bernstein, the encryption industry is expected to receive approval for the first Bitcoin spot ETF between mid-October 2023 and mid-March 2024.

Is Shiba Inu a potential investment coin?

As a meme coin project, Shiba Inu performed well during the bull market in 2021, becoming one of the most valuable cryptocurrencies. However, during the bear market of 2022-2023, Shiba Inu experienced a significant price decline, leading many investors to question whether Shiba Inu is still worth investing in. However, we can answer this question by analyzing Shiba Inu's past price trends and future ecosystem development.

First, let's review Shiba Inu's historical performance. Although Shiba Inu was initially seen as a joke in the market, the addition of new features and practicality led to a rapid increase in SHIB's user base and price. By October 28, 2021, Shiba Inu reached an all-time high and entered the top ten cryptocurrencies. Despite the losses during the 2022-2023 bear market season, its position as one of the most valuable cryptocurrencies has not been weakened.

Second, consider the future development of Shiba Inu's ecosystem. In the Shiba Inu ecosystem, Shibarium is the most important feature introduced since the platform's inception. Shibarium was launched in August 2023, with a wallet count of 1 million, aiming to make transactions on the Shiba Inu network faster and cheaper, which will have a significant impact on the adoption of various NFTs, metaverse, and gaming features on the network. In addition, the total supply of the project may undergo significant changes in the future, especially if the burning speed of Shiba Inu coins accelerates. These factors will support Shiba Inu's future growth.

Finally, although Shiba Inu's performance in the current market is not as strong as some other high-profile assets, it still shows greater resistance compared to other cryptocurrencies in terms of the extent of its ATH decline, indicating that it has considerable resilience. Considering the development of Shiba Inu's ecosystem and the burning speed of Shiba Inu coins, we can confidently say that Shiba Inu still has a bright future.

In conclusion, despite Shiba Inu experiencing the trials of bull and bear markets over the past year, it remains a potential investment coin based on its price trends and ecosystem development. For investors seeking new investment opportunities, Shiba Inu may be a viable choice.

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