According to a report of Sentora (former intotheblock), Shiba Inu (SHIB) price received 60% in July And 14% in early August this year. The price surplus came in Tandem with increased institutional inflow in Ethereum (ETH). Reports illustrate that the company’s government funds have 3,040,000 ETHValued at $ 11.32 billion. According to the report ”Shib’s resuscitation seems linked to inflows from US-based companies acquiring ETH.“
Will Ethereum inflows further push Shiba Inu price?
According to Sentora, ”Corporate investors’ demand for cryptotassures has largely centered at Ethereum, Solana and Bitcoin.“However, the report notes that measurements on the chain show an increase in the acquisition in Shiba Inu.
Ethereum (ETH) has seen consistent institutional inflows in recent months. The asset hit a maximum time of $ 4,946.05 on August 24. ETH met a new top after almost four years. Institutional inflows to ETH are expected to continue to grow in the coming months. Shiba Inu (Shib) price can take advantage of such a scenario.
According to CoinCex -analyst, Shiba Inu (SHIB) could increase to $ 0.00003206 On October 8th. Dating $ 0.00003206 from current price levels will mean a rally of about 154%. Coincex does not expect SHIB’s price to last at $ 0.00003. The platform expects a correction to about $ 0.000016 at the end of November.
Also read: Shiba Inu ATH is approaching as analysts at the end of the consolidation phase
