The cryptocurrency industry has greatly benefited from Donald Trump's latest victory. With Elon Musk joining Trump's camp, the meme coin market has surged. In addition to Dogecoin (DOGE), Shiba Inu (SHIB) has also benefited from this collaboration. While DOGE is expected to soar after Trump's inauguration, SHIB may follow closely behind. The community has high hopes for meme coins to rise in the next 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 risen by 4.30%. Notably, SHIB has dropped nearly 9% over the past seven days. Especially last weekend, the asset performed poorly, falling 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% lower than its peak.
Trump's Inauguration
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 the senators, representatives, and other government officials take their oaths of office, the vice president-elect will be the first to be sworn in. At noon, the president-elect will take the oath of office.
The Joint Congressional Committee on Inaugural Ceremonies (JCCIC) is responsible for planning the inaugural events. This includes the oath-taking, inaugural 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.
In this regard, CoinCodex data shows that Shiba Inu will soar to a high of $0.00003003 in January. In the following month of February, SHIB's trading price will reach a peak of $0.00002872.