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BTC’s latest rally could be due to Donald Trump announcing plans to nominate Paul Atkins as chair of the SEC. The cryptocurrency community has long wanted a replacement for Gary Gensler. SHIB’s rally is likely due to the same development.
Another factor could be the Federal Reserve Chair Jerome Powell’s comparison of Bitcoin (BTC) to gold.
BTC could hit the $115,000 mark on Jan. 29, 2025. A rally of about 12.1% would result if it did.
On the other hand, CoinCodex anticipates that SHIB’s price will dip over the next few days. The platform predicts SHIB to trade at $0.00002936 on Jan. 29, 2025. Falling to $0.00002936 from current price levels will entail a dip of about 7.61%.
There is also a chance that Shiba Inu ($SHIB) will continue its upward momentum. There are a lot of bullish developments in the cryptocurrency sector which could lead to a sustained rally. $BTC has hit never-before-seen price levels.
There is a pro-crypto President in the US. And many financial institutions are filing for more crypto-based ETFs. These developments could lead to an extended bull run this cycle. $SHIB could surge to a new all-time high if the positive market environment persists.
