The Shiba Inu price has resisted market fluctuations, rising an impressive 130% in the last year. Despite minor corrections, SHIB continues to trade above $0.00002 and maintains its bullish momentum. Bitcoin $107,955.4The recent market rally, with ‘s reaching a new all-time high, has increased optimism among cryptocurrencies. With Trump’s inauguration, speculation has arisen over Shiba Inu numbers potentially returning to an all-time high.
Trump’s Presidency and Cryptocurrencies
Donald Trump’s swearing-in as the 47th President of the United States triggered speculation in the cryptocurrency market. This development has raised questions about its potential impact on the prices of crypto assets such as Shiba Inu.
In the past hours, BTC experienced major corrections after exceeding $ 109,000 and reaching record levels. This milestone highlighted the market’s resilience and growth potential even during political changes. Many other cryptocurrencies have also experienced significant price increases, increasing optimism across the industry. As a matter of fact, Trump may take the expected steps regarding cryptocurrencies during this week. If investors do not see concrete steps in the first days, this will bring disappointment and decline.
Shiba Inu Technical Analysis
Currently SHIB price is trading at $0.00002055. While there has been a slight increase of 1.10% in the last 24 hours, some buying activity is observed in the market. However, market indicators point to mixed trends for the token.
Analysts note that political events can increase investor activity and market volatility.
The Relative Strength Index (RSI) is currently at 42, below the neutral 50 level, indicating a bearish trend. MACD, on the other hand, gives a bearish signal, showing that the upward momentum of the market is weakening.
Shiba Inu price recovery potential will depend on market dynamics and investor sentiment created by political events. While Trump’s presidency has spurred market-wide optimism, significant resistance levels must be overcome before SHIB can regain its all-time high.
Shiba Inu, a popular meme token, is trading 76.71% below its all-time high price of $0.00008845 on October 28, 2021. Despite this realization, the renewed market enthusiasm with Trump’s presidency may bring opportunities for SHIB to recover and potentially reach new highs.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
