Following that of Donald Trump 2024 presidential victory, Shiba Inu SHIB/USD surged 67% to $0.00002837 over the past week, reflecting enthusiasm over possible pro-crypto policies. Shiba Inu also gains Monday amid new record level of $82,300 for the Apex cryptocurrency Bitcoin.
What else: Trump’s victory, associated with Republican majority in the Senate, suggests a policy shift with corporate tax cuts, high tariffs and inflationary pressures that could impact both digital and traditional assets.
A major factor behind the rise of SHIB is Trump’s vision of the United States as “Bitcoin Superpower” including a proposal to add Bitcoin to national reserves. Such moves are energizing investors who view crypto as a hedge against economic risks, especially with analysts predicting an eventual 2.4% inflation increase if tariffs are adopted.
With its low price and high volatility, the Shiba Inu remains popular among retail investors, serving as both a growth vehicle and a hedge. Originally created as an Ethereum-based “Dogecoin killer,” SHIB captured speculative interest from investors drawn to meme-based assets.
Read also: Here’s how much $100 in Dogecoin could be worth today if DOGE hits new all-time highs
What’s next: The influence of Bitcoin as an institutional asset class should be explored in depth in the next The future of digital assets event on November 19.
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