{"id":37857,"date":"2025-01-21T19:31:50","date_gmt":"2025-01-21T19:31:50","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=37857"},"modified":"2025-01-21T19:31:50","modified_gmt":"2025-01-21T19:31:50","slug":"shib-price-poised-to-climb-3-reasons-behind-shiba-inus-bullish-outlook","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=37857","title":{"rendered":"SHIB Price Poised to Climb? 3 Reasons Behind Shiba Inu\u2019s Bullish Outlook"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Shiba Inu (SHIB) might not be in its best shape, but several elements suggest it could witness a renewed bull run in the near future.<\/span>
\nIts latest plunge coincides with the overall market decline following Donald Trump\u2019s inauguration on January 20.<\/p>\n

<\/a><\/span><\/h2>\n

What Might Ignite a Rally?<\/h2>\n

Shiba Inu (SHIB) experienced a significant pump in mid-January, reaching a local peak of around $0.00002485 (per CoinMarketCap\u2019s data). Since then, though, it has been on a downfall, currently trading at roughly $0.000021.\u00a0<\/span><\/p>\n

<\/a>SHIB Price, Source: CMC<\/p>\n

Its underperformance coincides with the broader decline of the cryptocurrency market<\/span>, which <\/span>occurred<\/span><\/a> shortly after Donald Trump\u2019s inauguration.<\/span> While some industry participants expected him to mention the digital asset industry in his speech, the Republican did not say a single word <\/span>on the topic<\/span>. <\/span>This<\/span> might explain why numerous tokens (including SHIB) are in the red today (January 21).\u00a0<\/span><\/p>\n

Nonetheless<\/span>, some essential factors signal that the popular meme coin could experience a new bull run soon. <\/span>One of those is the burning mechanism, <\/span>which<\/span> aims to reduce SHIB\u2019s circulating supply and <\/span>potentially<\/span> make it more valuable through scarcity.<\/span> Over the past 24 hours, the burn rate has <\/span>exploded<\/span><\/a> by 500%, resulting in approximately 2.8 million tokes sent to a null address.<\/span><\/p>\n

Next on the list is the uptrend of TREAT. <\/span>The Shiba Inu-related coin, which is designed to enhance utility and engagement across the network\u2019s projects and serve as a reward token within the ecosystem, officially <\/span>saw the light of day<\/span><\/a> on January 14.<\/span>\u00a0<\/span><\/p>\n

While TREAT has been underperforming in the past week, its price <\/span>soared<\/span><\/a> by over 50% in the last 24 hours, rising to as high as $0.013. It retraced to the current $0.0082 in the following hours but remains in green territory.\u00a0<\/span><\/p>\n

Being closely connected to Shiba Inu, the potential further advancement of TREAT may positively affect the second-biggest meme coin.\u00a0<\/span><\/p>\n

Third, we will focus on <\/span>SHIB\u2019s exchange netflow<\/span><\/a>, which has been negative for the past four days. This development signals a shift from centralized exchanges toward self-custody methods, which could be considered bullish since it reduces the immediate selling pressure.<\/span><\/p>\n

Bonus: DOGE\u2019s Influence<\/span><\/h2>\n

It is worth mentioning that SHIB\u2019s potential short-term rally could also be propelled by Dogecoin\u2019s price performance.\u00a0<\/span><\/p>\n

DOGE is the undisputed leader in the meme coin niche, and its rivals sometimes mimic its price swings. <\/span>Most recently, its <\/span>valuation briefly <\/span>exploded<\/span><\/a> by double digits<\/span> after the Elon Musk-led Department of Government Efficiency (D.O.G.E.) featured the meme coin\u2019s logo on its official website.<\/span><\/p>\n

It will be interesting to see whether the asset will thrive under the new US presidency and how it will affect the rest of the memes.<\/p>\n

The post SHIB Price Poised to Climb? 3 Reasons Behind Shiba Inu\u2019s Bullish Outlook<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Shiba Inu (SHIB) might not be in its best shape, but several elements suggest it could witness a renewed bull run in the near future. Its latest plunge coincides with the overall market decline following Donald Trump\u2019s inauguration on January 20. What Might Ignite a Rally? Shiba Inu (SHIB) experienced a significant pump in […]<\/p>\n","protected":false},"author":0,"featured_media":37858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-37857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37857"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37857"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/37858"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}