The cryptocurrency industry has benefitted greatly from Donald Trump’s latest victory. The meme coin market saw a major spike with Elon Musk joining Trump. Along with Dogecoin (DOGE), Shiba Inu (SHIB) also profited from this collaboration. While DOGE is expected to surge after Trump gets sworn in, SHIB could follow suit. The community is betting big on the meme coin’s possible rise in the coming month.
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Is Shiba Inu In Its Recovery Phase?
At press time, the meme coin was trading at $0.00002879 after surging by 4.30%. It should be noted that SHIB recorded a nearly 9% decline in the last seven days. Last weekend, in particular, the asset was bearish as it dropped to a low of $0.00002447. During its latest rally, the community expected SHIB to reclaim its all-time high of $0.00008845. But the meme coin remains 67% below its peak.
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Trump’s Inauguration Ceremony
The Shiba Inu community and the rest of the globe will have to wait a while before Trump takes over. The vice president-elect takes the oath of office first on Inauguration Day, after senators, representatives, and other government officials have already done so. Around noon, the president-elect then takes his oath.
The Joint Congressional Committee on Inaugural Ceremonies (JCCIC) is in charge of planning the activities. This includes the swearing-in, the inaugural address, and the pass-in review. The ceremony for the inauguration is scheduled for Monday, January 20, 2025. The U.S. Capitol building in Washington, D.C., is the venue for the inaugural event.
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Considering this, data from CoinCodex reveals that Shiba Inu will surge to a high of $0.00003003 in January. In February which is the month after, SHIB will trade at a maximum price of $0.00002872.
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