With the U.S. Presidential election fast approaching, the financial markets—and especially crypto investors—are eagerly awaiting the outcome. Analysts predict that Donald Trump’s pro-business policies and crypto-friendly stance could ignite a bullish trend for assets like Shiba Inu (SHIB) and Bitcoin. This article will explore how Trump’s potential victory could affect SHIB’s price and the overall market.
Shiba Inu’s Recent Performance
SHIB has been one of the standout assets in the crypto market, seeing a 171.5% increase since October 2023. Over the last day, SHIB has gained 2.5%, with a 11.4% rise over the past week and a 13.8% boost over the last 14 days. Compared to the previous month, SHIB has surged by 40.5%, signaling that it’s still gaining momentum. However, it has faced resistance at the $0.00002 level, and investors are closely watching whether it can break through this critical point.
Could Trump’s Presidency Be a New Opportunity for SHIB?
If Donald Trump wins the presidency, it could mark a significant turning point for the crypto markets. His pro-business stance and positive outlook on crypto assets have already drawn attention from investors. During his campaign, Trump has indicated a more relaxed approach to crypto regulation, which has created optimism in the market. But how would this impact SHIB?
Analysts predict that with the results of the November 5, 2024 election, Bitcoin could hit a new all-time high, reaching $86,715. SHIB, meanwhile, is expected to trade at $0.00001741, which would represent a slight decline of 7.2% from current levels. Despite this short-term dip, many expect a long-term bullish trend in crypto markets if Trump wins, potentially leading to future gains for SHIB.
Standard Chartered’s Forecasts and SHIB’s Future
According to reports from Standard Chartered, Trump’s victory could push Bitcoin to $125,000, an 84.49% increase from its current price. If SHIB follows a similar trajectory, it could reach $0.00003461, which would mark its highest price point of the year. However, SHIB’s future won’t depend solely on Bitcoin. The coin’s market conditions, community support, and investor confidence will all play crucial roles in its growth.
While the future remains uncertain, the potential impact of the 2024 election on SHIB and the broader crypto market is clear. Stay tuned to Turkish NY Radio for updates on how this major political event could shape the world of digital assets.
