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End at 18:00, May 25 (UTC)
Shiba Inu: How High Will SHIB Increase When Bitcoin Reaches $115,000
Bitcoin (BTC) has finally surpassed the $100,000 mark. BTC's rise to a new record high could lead to a market-wide price increase. Shiba Inu (SHIB) seems to be following BTC's trajectory. The dog-themed cryptocurrency has risen 6.1% in the past 24 hours, 23.1% on the weekly chart, 31.5% on the 14-day chart, and 83.5% compared to last month. The price of SHIB has also risen 249.6% since December 2023.
Why does Bitcoin increase in value? The latest BTC price increase may be due to Donald Trump's announcement of nominating Paul Atkins as SEC chairman. The cryptocurrency community has long wanted someone to replace Gary Gensler. The SHIB price increase may be due to similar developments. Another factor may come from Federal Reserve Chairman Jerome Powell comparing Bitcoin (BTC) to gold. What is the price of Shiba Inu when BTC reaches $115,000? According to CoinCodex, BTC could reach $115,000 on January 29, 2025. The price will increase by about 12.1% if this happens.
On the other hand, CoinCodex predicts that the price of SHIB will decrease in the coming days. The platform predicts that SHIB will trade at $0.00002936 on January 29, 2025. A decrease to $0.00002936 from the current price will lead to a decrease of approximately 7.61%.
It is also possible that Shiba Inu (SHIB) will continue to rise. There are many price increase developments in the cryptocurrency field that could lead to a sustainable price increase. BTC has reached a price level never seen before. There is a President supporting cryptocurrency in the United States. And many financial institutions are applying for additional ETFs based on cryptocurrency. These developments could lead to a prolonged price increase in this cycle. SHIB could soar to a new record high if the positive market environment continues.