The crypto market is buzzing with excitement following Donald Trump’s 2024 presidential win, as Shiba Inu (SHIB) has skyrocketed over 67% in the past week, reaching $0.00002837. The surge is a direct reflection of investor optimism surrounding potential pro-crypto policies under Trump’s administration. Adding fuel to the fire, Bitcoin has achieved a new all-time high of $82,300, further amplifying the bullish sentiment in the crypto space.
Trump’s victory, coupled with the Republican majority in the Senate, suggests a shift in policy landscape with potential for corporate tax cuts, high tariffs, and inflationary pressures. These economic shifts could significantly impact both digital and traditional assets. However, the primary catalyst behind SHIB’s surge is Trump’s bold vision of the U.S. as a “Bitcoin superpower.” This vision includes a proposal to add Bitcoin to the nation’s reserves, a move that has energized investors who view crypto as a hedge against economic uncertainties.
With analysts predicting a potential 2.4% increase in inflation if tariffs are enacted, the appeal of crypto as a hedge against economic risks is only amplified. Shiba Inu, with its low price and high volatility, has become a favorite among retail investors, serving as both a potential growth vehicle and a tool for hedging against market fluctuations. Originally conceived as an Ethereum-based “Dogecoin killer,” SHIB has captured the speculative interest of investors drawn to meme-based assets.
The influence of Bitcoin as an institutional asset class is set to be a major topic of discussion at Benzinga’s upcoming Future of Digital Assets event on November 19. This event will provide invaluable insights into the evolving landscape of the crypto market, further solidifying its role in the global financial system.
