The cryptocurrency industry is reaping significant benefits from Donald Trump's recent victory. With Elon Musk joining Trump's camp, the meme coin market has surged dramatically. Besides Dogecoin (DOGE), Shiba Inu (SHIB) has also benefited from this collaboration. While it is expected that DOGE will soar after Trump's inauguration, SHIB may follow closely behind. The community has high hopes for meme coins to rise in the coming month.
Is Shiba Inu in a recovery phase?
As of the time of writing, the trading price of this meme coin is $0.00002879, having increased by 4.30%. Notably, SHIB has dropped nearly 9% in the past seven days. Particularly over the last weekend, the asset performed poorly, dipping to a low of $0.00002447. In the recent rebound, the community expects SHIB to recover its historical high of $0.00008845. However, this meme coin is still 67% below its peak.
Trump's Inauguration
The Shiba Inu community and the rest of the world will have to wait a while for Trump to take office. On the day of the inauguration, after senators, representatives, and other government officials take their oaths of office, the vice presidential candidate will be the first to be sworn in. At noon, the elected president will take the oath of office.
The Joint Congressional Committee on Inaugural Ceremonies (JCCIC) is responsible for planning the inauguration activities. This includes the oath-taking, inauguration speech, and onboarding review. The inauguration is scheduled to take place on Monday, January 20, 2025. The United States Capitol in Washington, D.C. is the venue for the inauguration.
With this in mind, CoinCodex data shows that Shiba Inu will soar to a high of $0.00003003 in January. In the following month, February, SHIB's trading price will reach a maximum of $0.00002872.