"Panshibi Surge: Cardano & XRP Holders Fuel Meme Coin Presale, Eyeing 100X Post-Launch"
1min read Panshibi Hype Builds As More Cardano & XRP Holders Join The Presale Ramping Up The 100X Potential Post Launch
Recent developments in the cryptocurrency market have sparked significant interest among investors, with a new meme coin, Panshibi ($SHIBI), gaining traction among Cardano (ADA) and XRP holders. This surge in popularity comes amidst a proposal by NYSE Arca to list the Grayscale Cardano Trust, which could provide investors with direct exposure to ADA. Meanwhile, XRP price has dropped to $2.38, down 3.04% in the past 24 hours, mirroring broader market fluctuations that have affected several altcoins.
NYSE Arca's 19b-4 form signals a potential rule change for listing the Grayscale Cardano Trust, an ETF-like product that would provide investors with direct ADA ownership. Grayscale Operating, LLC and Grayscale Investments Sponsors, LLC are backing the trust, with each share representing proportional ADA ownership. If approved by the SEC, this would mark a significant milestone, making Cardano-based financial products more accessible for mainstream traders and institutions. Enthusiasts assert that an ETF would elevate Cardano's standing as a top-tier asset, possibly spurring inflows that could push ADA's price higher over time.
However, market watchers remain cautious, as regulatory hurdles persist and final approval is never guaranteed. Nonetheless, the filing alone indicates deepening institutional engagement in Cardano's ecosystem, aligning with the network's push into DeFi and enterprise partnerships. If GADA goes live, some analysts predict Cardano might join the ranks of heavily traded crypto-based investment products, furthering its relevance.
While the XRP price lands at $2.38, a 3.04% daily decline, supporters continue to track Ripple's legal and adoption milestones. Although near-term volatility weighs on XRP, long-term holders argue that real-world applications and ongoing network development keep it a valid contender among top altcoins. Observers note that major announcements or legal clarity could reverse the downward trend quickly. Some XRP holders are branching out to alternative assets, especially newly launched tokens that exhibit strong presale numbers and comedic appeal.
In parallel with these Cardano news breakthroughs and X 
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