Shiba Inu (SHIB) Price Prediction: Can It Reach $2 After a Donald Trump Win?

Shiba Inu (SHIB) price, a popular meme cryptocurrency, has seen a significant uptick in price amid a broader market recovery following the recent U.S. elections.

Shiba Inu (SHIB) price surged on Sunday after Donald Trump won the 2024 U.S. presidential election.

SHIB price up 8%

According to the latest data, SHIB price increased by 8% in the last 24 hours. The meme cryptocurrency was trading at $0.00001888 at the time of reporting.

Shiba Inu price now trades at a crucial support level after a 130% surge in the last one year. The meme coin could rally towards its all-time high of $0.00008845 if Bitcoin continues to rise.

With a bullish market sentiment, SHIB price might even reach the ambitious target of $2.

Meme coins like PEPE, POPCAT, WIF, BONK, FLOKI, and MEW are also surging, which could further fuel SHIB price.

Shiba Inu price reacted positively to the election news, which also saw Bitcoin reaching a new all-time high of $75,000. The market appeared to be optimistic about the upcoming administration's policies.

After Trump's victory, various digital currencies, including ETH and PEPE coin, experienced significant price increases.

Shiba Inu price analysis

SHIB price is currently facing resistance at the 23.6% Fibonacci retracement level. A breakout above this level could lead to a rally towards the 38.2% Fibonacci retracement level at $0.000022.

On the downside, support is located at the 144-hour moving average. A break below this level could lead to a deeper коррекция towards the 78.6% Fibonacci retracement level at $0.000015.

The RSI indicator is also bullish, suggesting that there is more buying pressure than selling pressure in the market. A move above the 70 level could indicate that SHIB price is entering overbought territory.

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