Shiba Inu (SHIB) has experienced a significant price increase following the U.S. elections. The crypto sector has been invigorated, positioning SHIB to capitalize on the stronger market outlook after former President Trump’s win. Over the last 24 hours, SHIB has seen substantial gains due to increased investor interest and positive market sentiment.
This rally is a result of growing network engagement, including rising daily transactions and ecosystem expansion, which could potentially push SHIB’s price towards the $2 mark. Following news of Trump’s victory, cryptocurrencies like Bitcoin, Shiba Inu, Ethereum, and PEPE coin experienced notable price increases, showcasing the sector’s responsiveness to political developments.
At the time of reporting, the SHIB price stood at $0.00001888, an 8% increase from the previous day. Over the past year, Shiba Inu has surged by 130%, sparking anticipation of a significant rally. This growth could mirror its all-time high from October 2021, when it reached $0.00008845. Analysts suggest that continued Bitcoin gains may help Shiba Inu’s price approach those historic levels again.
A bullish market sentiment might even push Shiba Inu price prediction towards the ambitious target of $2. Shiba Inu’s ecosystem is strong, supported by the launch of a dedicated game to boost utility and community engagement. The token’s burn rate has also spiked by 3674.17%, with 53.3 million SHIB burned in the last 24 hours.
This reduction in supply is expected to support the token’s long-term growth trajectory. The MACD indicator suggests a bullish trend, reflecting growing positive momentum, which could signify further gains if buying pressure persists. Shiba Inu shows strong upward momentum amid favorable market conditions.
Increased investor interest supports SHIB’s potential for further gains. With ongoing ecosystem developments and reduced supply, SHIB could continue its bullish trend. However, reaching $2 remains ambitious.
