What’s going on with Dogecoin rival Shiba Inu (SHIB)?

Below Donald Trump’s 2024 presidential victory, Shiba Inu SHIB/USD has surged 67% to $0.00002837 over the past week, reflecting excitement over possible pro-crypto policies. Shiba Inu is also gaining on Monday, hitting a new all-time high of $82,300 for the apex cryptocurrency Bitcoin.

What else: Trump’s victory, coupled with that republican The Senate majority is proposing a policy shift with corporate tax cuts, high tariffs and inflationary pressures that could impact both digital and traditional assets.

A key factor in SHIB’s rise is Trump’s vision of the US as a “Bitcoin superpower,” including a proposal to add Bitcoin to national reserves. Such moves are giving a boost to investors who view crypto as a hedge against economic risks, especially as analysts predict a possible 2.4% rise in inflation if tariffs are imposed.

Due to its low price and high volatility, Shiba Inu remains popular with retail investors and serves as both a growth vehicle and a hedge. Originally developed as an Ethereum-based “Dogecoin killer,” SHIB has attracted speculative interest from investors interested in meme-based assets.

Also Read: Here’s How Much Dogecoin Could Be Worth $100 Today If DOGE Hits New All-Time Highs

What’s next?: Bitcoin’s impact as an institutional asset class is expected to be explored in depth at Benzinga’s upcoming Future of Digital Assets event on November 19th.