Shiba Inu: Can SHIB reach $0.00005 by the end of 2024?
Shiba Inu (SHIB) appears to have entered another bullish trend. The dog-themed asset is up 2.9% on the daily chart, 4.0% on the weekly chart, and 28.8% on the 14-day chart, which is up 37.8% from the last month. The 12th-ranked crypto project by market cap has grown 207.1% since November 2023.
SHIB’s latest rally could be due to Bitcoin (BTC) hitting a new all-time high of $99,261.30 earlier today. BTC’s rally sparked market-wide momentum, pushing other assets into a bullish run.
BTC’s rally could be due to rumors of Donald Trump’s election as “crypto czar.” Trump’s win in the U.S. presidential election has seen a significant increase in investor confidence due to his pro-crypto stance. Market participants expect that cryptocurrency regulation will be looser under Trump.
Analysts say SHIB could surge to $0.00005204 on November 26, 2024. The platform does not expect the asset’s price to remain above $0.00005 for long. CoinCodex analysts expect SHIB to pull back to around current levels in early December 2024.
Changelly analysts have also offered a similar outlook for Shiba Inu (SHIB). The platform expects the asset to surge to $0.00005049 on November 25, 2024.
