Shiba Inu (SHIB) May Turn Bullish If Republican Candidate Donald Trump Wins the 2024 U.S Presidential Election

With counting underway and Trump maintaining a considerable lead over Kamala Harris, Shiba Inu (SHIB) may turn bullish if Republican candidate Donald Trump

Shiba Inu (SHIB) price may turn bullish if Republican candidate Donald Trump wins the 2024 U.S presidential election, considering his support for digital assets.

SHIB Surges over 10% amid Trump’s Rising Chances

Shiba Inu (SHIB) price shows bullish signs and may surge if Trump wins the 2024 U.S presidential election, as suggested by recent market trends.

With counting underway and Trump maintaining a considerable lead over Kamala Harris, SHIB price may turn bullish if the Republican candidate were to win.

SHIB, currently trading at $0.00001927, has already gained 11.31% in the past 24 hours, reflecting increased market interest.

Trump has expressed support for the digital asset sector in various speeches during his campaign, and his son has also highlighted decentralized finance (DeFi) projects and tokens.

Being the crypto industry’s preferred candidate for 2024, Shiba Inu could potentially benefit from Trump’s election.

According to data from Polymarkets, the chances of Trump securing a victory in the 2024 US elections stand at a massive 94%, while that of soon-to-be former Vice President and Democratic candidate Kamala Harris stand at 5.9%.

SHIB Price Analysis

Shiba Inu (SHIB) price shows bullish signs but remains down 78.12% from its all-time high of $0.00008845, set during the 2021 market rally.

SHIB’s market cap currently stands at $11.41 billion, ranking it as the 12th-largest digital asset.

SHIB Burn Rate Accelerates

Shiba Inu is also showing signs of burning more tokens rapidly. The SHIB token burn rate has surged a monumental 1046.39%, according to data from Shibburn.

More than 14 million SHIB tokens were burned out of circulation in the past 24 hours.

SHIB price may continue to rise if Trump wins, but it’s crucial to note that this analysis is based on market trends and preferences and does not constitute financial advice.

Investors are advised to conduct thorough research and consult with qualified professionals before making any decisions.

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