What is happening with Dogecoin Rival Shiba Inu (SHIB)?

Follow Donald Trump’s 2024 presidential victory, Shiba Inu SHIB/USD is up 67% to $0.00002837 over the past week, reflecting excitement over potential pro-crypto policies. Shiba Inu also gains on Monday amid a new all-time high of $82,300 for the apex cryptocurrency Bitcoin.

What else: Trump’s victory, paired with Republicans majority in the Senate, proposes a policy shift with corporate tax cuts, high tariffs and inflationary pressures that could affect both digital and traditional assets.

A major factor behind SHIB’s rise is Trump’s vision of the United States as a “Bitcoin superpower,” including a proposal to add Bitcoin to the national reserves. Such moves energize investors who see crypto as a hedge against economic risks, especially with analysts predicting a possible 2.4% rise in inflation if tariffs are enacted.

With its low price and high volatility, the Shiba Inu remains popular with retail investors, acting as both a growth instrument and a hedge. Originally created as an Ethereum-based “Dogecoin killer,” SHIB has captured the speculative interest of investors attracted to meme-based assets.

Also Read: Here’s How Much $100 in Dogecoin Could Be Worth Today If DOGE Hits New Records

What’s next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on November 19.