SHIB Rises Amid Growing Trump Victory Odds
As vote counting shows a significant lead for Donald Trump in the 2024 U.S. presidential election, this could signal a bullish trend for Shiba Inu (SHIB). Currently trading at $0.00001927, SHIB has gained 11.31% in the past 24 hours, reflecting increased investor interest as Trump’s chances of victory rise.
Throughout his campaign, Trump has expressed support for digital assets, and his son has even hinted at involvement in decentralized finance (DeFi) projects. As the preferred candidate of the crypto industry for 2024, Trump’s potential win could further drive the value of Shiba Inu.
According to Polymarkets data, Trump holds a strong chance of victory with odds estimated at 94%, while Kamala Harris stands at 5.9%.
Bitcoin Rises, and SHIB Shows Bullish Potential
Bitcoin (BTC), the market leader, has risen by 9% over the past 24 hours, reaching a record high of $75,000. Trading volume increased by 80% to $73.63 billion, likely connected to Trump’s growing lead, which has boosted investor confidence in cryptocurrencies. Shiba Inu is also showing bullish signals, though it remains 78.12% below its all-time high of $0.00008845 from 2021. SHIB’s current market capitalization is $11.41 billion, placing it 12th among digital assets.
SHIB’s Burn Rate Increases
Shiba Inu is further strengthening its growth potential with an increasing SHIB token burn rate, which, according to Shibburn data, has surged by an impressive 1046.39%. Over 14 million SHIB tokens were removed from circulation in the past 24 hours.
Shytoshi Kusama, the lead developer of Shiba Inu, recently announced the creation of a “Strategic Center for Blockchain Innovation (SHIB)” and invited #ElonMusk. and #donaldtrump to collaborate. Such partnerships could expand the #SHIB، ecosystem, attract greater investor interest, and boost SHIB’s value.
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