Both Dogecoin (DOGE) and Shiba Inu (SHIB) have shed roughly 12% over the past week, but the charts don't tell the whole story. Beneath the red candles, several fundamental developments suggest the meme coin landscape might be setting up for something interesting.
The ETF Timeline Takes Shape
Bloomberg Senior ETF Analyst Eric Balchunas said Grayscale is on track to launch the first-ever Dogecoin ETF around November 24, based on the SEC's 20-day review window. He cautioned that final approval still requires an exchange notice, but current regulatory guidance makes the timeline highly favorable.
Meanwhile, Dogecoin Treasury company Bit Origin announced plans to accumulate $500 million worth of DOGE, positioning the move as a way to blend crypto culture with real-world utility and prepare for mainstream adoption.
Shiba Inu's Supply Squeeze Strategy
Shibburn reported that 17.3 million SHIB tokens were burned in the last 24 hours—a 1,090% spike that signals accelerating supply destruction. That's the kind of number that gets attention in meme coin circles.
Crypto chart analyst Ali Martinez warned that Dogecoin's pullback to $0.15 is structurally weak unless it quickly reclaims support. But for Shiba Inu, momentum may be shifting. Binance influencer Jack highlighted three bullish signals converging: burns are accelerating, exchange reserves are declining, and buyers are stepping in at every dip.
This combination often precedes a supply squeeze, especially with SHIB still holding its key demand zone and its RSI flashing early strength.
Regulatory Recognition From a G7 Nation
Adding fuel to the momentum, Japan placed SHIB on its regulatory "Green List," elevating it alongside Bitcoin and Ethereum. The designation signals formal recognition and legitimacy from a G7 nation, boosting SHIB's global credibility in a way that matters for institutional interest.
