Will Shiba Inu Price Hit ATH After Trump Inauguration?

Shiba Inu price has surged an impressive 130% over the past year, demonstrating resilience amid market fluctuations. Despite slight corrections, SHIB continues to trade above $0.00002, maintaining bullish momentum. The recent market rally, driven by Bitcoin hitting a new all-time high, has fueled optimism across cryptocurrencies. With Trump’s inauguration, speculation arises about Shiba Inu potentially revisiting its all-time high.

Will Trump’s Inauguration Propel Shiba Inu Price to 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 Shiba Inu price.

Historically, political events of this magnitude have influenced global financial markets, including cryptocurrencies. Analysts suggest that such events often lead to heightened investor activity and market volatility.

Notably, Bitcoin recently achieved a record high of $109,000 before experiencing minor corrections. This milestone underscores the market’s resilience and its potential to thrive amidst political shifts. Many other cryptocurrencies have also experienced 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 has seen a slight increase of 1.10% in the last 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 50 level, suggesting bearish sentiment. However, it remains above the oversold territory, indicating a possibility for a recovery if buying pressure increases. 

The MACD (Moving Average Convergence Divergence) is also displaying a bearish crossover, with the MACD line trading slightly below the signal line. This points to weakening bullish momentum in the market.

If Shiba Inu price prediction breaks above $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 breakdown below $0.00001964 could drag the price to $0.00001700. If selling pressure intensifies, the next downside target would be $0.00001500.

Shiba Inu’s price recovery potential depends on market dynamics and investor sentiment driven by political events. While Trump’s inauguration fosters optimism, SHIB faces significant resistance levels before reclaiming its ATH.