The price of the Shiba Inu has soared 130% over the past year, demonstrating its resilience in the face of market fluctuations. Despite slight corrections, SHIB continues to trade above $0.00002, maintaining its bullish momentum. The recent market rally, led by Bitcoin hitting a new all-time high, has fueled optimism in cryptocurrencies. With Trump’s inauguration, speculation arises that the Shiba Inu may return to its all-time high.
Will Trump’s inauguration propel Shiba Inu Price to the ATH?
In a historic moment, Donald Trump was inaugurated today as the 47th President of the United States. This development has sparked speculation in the cryptocurrency market, raising questions about its impact on digital assets like the price of Shiba Inu.
Historically, political events of this magnitude have influenced global financial markets, including cryptocurrencies. Analysts suggest that such events often lead to increased investor activity and market volatility.
Notably, Bitcoin recently hit an all-time high of $109,000 before undergoing minor corrections. This step highlights the resilience of the market and its potential to thrive despite political changes. Many other cryptocurrencies have also seen significant price increases, fueling optimism across the industry.
Shiba Inu, a popular meme token, remains 76.71% below its all-time high of $0.00008845, recorded on October 28, 2021. Despite this gap, the renewed market enthusiasm driven by Trump’s inauguration could present opportunities for SHIB to recover and potentially reach new heights.
SHIB Technical Analysis
At the time of writing, the SHIB Price is trading at $0.00002055. The cryptocurrency saw a slight increase of 1.10% over the past 24 hours, signaling some buying activity. However, market indicators suggest mixed trends for the token.
The Relative Strength Index (RSI) is currently at 42, below the neutral level of 50, suggesting bearish sentiment. However, it remains above oversold territory, indicating a possibility of recovery if buying pressure increases.
The MACD (Moving Average Convergence Divergence) is also showing a bearish crossover, with the MACD line trading slightly below the signal line. This indicates a weakening of the bullish momentum in the market.
If Shiba Inu Price Prediction exceeds $0.00002454, the next target would be $0.00002707. A sustained rally could push the price to $0.00003000, a key psychological resistance level. A break below $0.00001964 could take the price to $0.00001700. If the selling pressure intensifies, the next downside target would be $0.00001500.
The potential for Shiba Inu price recovery depends on market dynamics and investor sentiment influenced by political events. While Trump’s inauguration sparks optimism, SHIB faces significant resistance levels before reclaiming its ATH.
Frequently Asked Questions (FAQ)
SHIB’s ATH is $0.00008845, reached on October 28, 2021.
SHIB is currently 76.71% below its all-time high.
The resistance levels are $0.00002454, $0.00002707, and $0.00003000.
Quince stick
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Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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