A Shiba Inu marketing executive has ignited speculation about a potential exchange-traded fund for the popular meme cryptocurrency, citing its widespread availability across global trading platforms.
The comments coincide with a dramatic surge in the token's burn rate, which jumped more than 8,000% in a single day.
Lucie, who serves as a marketing lead for Shiba Inu, stated on social media platform X that SHIB possesses the necessary qualities to become an ETF candidate. "SHIB is listed on over 110 exchanges with 212 trading pairs—including all the major platforms," she wrote on March 23. "It's basically everywhere: easy to access, easy to trade."
She emphasized the cryptocurrency's fundamental strength beyond its meme status. "Because SHIB isn't just a meme—it's decentralized, community-driven, and built to last," Lucie added in her post.
The remarks have drawn attention amid growing investor interest in whether meme coins might follow Bitcoin and Ethereum in securing ETF approval from regulators. Both major cryptocurrencies received ETF authorization after years of applications and regulatory scrutiny.
Recent developments in the cryptocurrency ETF landscape have fueled such discussions. Canary Capital reportedly filed an S-1 form with the U.S. Securities and Exchange Commission seeking approval for a SUI ETF, according to market observers. The SEC has also acknowledged Grayscale's filing for a Dogecoin ETF, intensifying speculation about similar opportunities for other digital assets in the meme coin category.
Some analysts have suggested that investment giant BlackRock might file for a Dogecoin ETF, though this remains unconfirmed. These developments have created an environment where traders are actively speculating on which cryptocurrencies might next receive ETF treatment from regulators.
As ETF discussions gained momentum, SHIB experienced an extraordinary 8,457% increase in its burn rate on Monday. Data from tracking sites showed more than 1 billion SHIB tokens were permanently removed from circulation within a 24-hour period. The burn mechanism operates by sending tokens to a designated address where they can never be retrieved, effectively reducing the total supply. Following this substantial burn activity, the circulating supply stands at 584.35 trillion coins.
Cryptocurrency markets typically respond positively to supply reductions, following basic economic principles suggesting that decreased availability might lead to price appreciation. However, despite the excitement surrounding potential ETF developments and the dramatic burn rate increase, SHIB's price movement has been relatively modest.
The meme coin registered just a 1% price increase, reaching $0.00001303 at the time of reporting. The token traded within a narrow range from $0.0000128 to $0.00001309 over the previous 24 hours, displaying limited volatility despite the developments.
Market data indicates growing interest in SHIB derivatives. The open interest in Shiba Inu futures increased by 3.5% to $120 million, while trading volume jumped 20% to $70 million.
These metrics suggest traders are paying close attention to the meme coin, even though the price has not yet reflected the optimism expressed by community figures.
While a Shiba Inu ETF would likely enhance the appeal and legitimacy of the cryptocurrency, regulatory approval remains uncertain. The SEC only recently approved Bitcoin and Ethereum ETFs after years of applications, indicating that meme coins may face significant regulatory hurdles before achieving similar recognition.