Key Takeaways:
Shiba Inu (SHIB) is a popular meme coin in the crypto ecosystem that has made a significant upsurge in price in the middle of a broader market recovery after the victory of Donald Trump in the elections. As per the official data from Shibburn, the upsurge in the burn rate of Shiba Inu is estimated as 3674.17% with 53.3 million SHIB in the past 24 hours. In the current context the burning of tokens results in reducing the excessive supply of the coin.
According to market experts, this excess supply of coins is the reason behind the underperformance of Shiba Inu. This burning process ignited optimism among the Shibu Inu customers. This in turn created a positive market sentiment. This increase is an indication that Shibu Inu has the potential to achieve the $2 target.
Future of Shiba Inu following the victory of Donald Trump
Donald Trump won the 2024 US election by an impressive majority of 50 million votes against Democrat Kamala Harris. These election results created an upsurge in the entire cryptocurrency ecosystem. Shiba Inu also benefited from this positive market sentiment.
In this positive sentiment value of the Bitcoin reached a historic peak by trading at $75,000. The anticipated policies of the upcoming government created a positive sentiment in the crypto ecosystem which in turn supported the Shiba Inu and other cryptocurrencies. Investors are actively looking forward to further expanding their crypto investments.
Shiba Inu Price hike creates optimism in the market
At the time time of writing, The SHIB price stands at $0.00001883.It shows an increase of 8%. In the last year alone Shiba Inu hiked up to 130% creating momentum for a significant upsurge. This growth resembles the all-time high caused in October 2021 when the value reached the level of $0.00008845. According to the analysts, the price hike of Bitcoin will support the growth of Shibu Inu. If this trend continues then the market of Shiba Inu will cross the target of $2 valuation.
The Meme coin ecosystem itself shows its potential for growth in the upcoming political scenario. Meme coins such as MEW, FLOKI, PEPI, POPCAT, etc also support the growth of Shiba Inu. The support that Shiba Inu gets from other meme coins is also creating a positive trend in this exponential growth of Shibu Inu.
The Shiba Inu team is planning to reshape the US crypto landscape by igniting the enthusiasm of the team of investors. The team is planning to establish a strategic hub for innovation and Blockchain. This project is estimated to be initiated in a city that they refer to as the Silicon Valley of Crypto. This is a project that is submitted to the global crypto community and the upcoming president of U S Donald Trump.
SHIB is an initiative that aims to provide economic growth, and national security and enhance the leadership of the United States within the realm of emerging technologies. The SHIB token is available on all major exchanges. You can choose centralized crypto exchanges to trade the token. OKX is the most popular option with a trading volume of $47,247,108 for the past 24 hours with the most active trading pair SHIB/USDT. The token is also available on other exchange platform such as DigiFinex and Upbit.
Shibu In is showcasing a strong upward trajectory along with favorable conditions. The potential of the project seems to be on a promising end with the support of investor interests and growing demand. The token might reach further heights if the currency scenario sustains. However, the investment must be made after careful consideration. The evolving nature of the crypto ecosystem should be taken into account before proceeding with the final investment decision.
The current market capitalization of SHIB is $11,032,588,381 with a 24-hour trading volume of $1,430,857,640.
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