What's Going On With Dogecoin Rival Shiba Inu (SHIB)?

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

What Else: Trump’s victory, paired with the Republican majority in the Senate, suggests a policy shift with corporate tax cuts, high tariffs and inflationary pressures that could impact digital and traditional assets alike.

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

With its low price and high volatility, Shiba Inu remains popular among retail investors, serving as both a growth vehicle and hedge. Originally created as an Ethereum-based "Dogecoin killer," SHIB has captured the speculative interest of investors drawn to meme-based assets.

Read Also: Here’s How Much $100 In Dogecoin Today Could Be Worth If DOGE Hits New All-Time Highs

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 Nov. 19.