The post SHIB Price Poised to Climb? 3 Reasons Behind Shiba Inu’s Bullish Outlook appeared on BitcoinEthereumNews.com.

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’s inauguration on January 20. What Might Ignite a Rally? Shiba Inu (SHIB) experienced a significant pump in mid-January, reaching a local peak of around $0.00002485 (per CoinMarketCap’s data). Since then, though, it has been on a downfall, currently trading at roughly $0.000021.  SHIB Price, Source: CMC Its underperformance coincides with the broader decline of the cryptocurrency market, which occurred shortly after Donald Trump’s inauguration. While some industry participants expected him to mention the digital asset industry in his speech, the Republican did not say a single word on the topic. This might explain why numerous tokens (including SHIB) are in the red today (January 21).  Nonetheless, some essential factors signal that the popular meme coin could experience a new bull run soon. One of those is the burning mechanism, which aims to reduce SHIB’s circulating supply and potentially make it more valuable through scarcity. Over the past 24 hours, the burn rate has exploded by 500%, resulting in approximately 2.8 million tokes sent to a null address. Next on the list is the uptrend of TREAT. The Shiba Inu-related coin, which is designed to enhance utility and engagement across the network’s projects and serve as a reward token within the ecosystem, officially saw the light of day on January 14.  While TREAT has been underperforming in the past week, its price soared 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.  Being closely connected to Shiba Inu, the potential further advancement of…

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Filed under: News - @ January 21, 2025 11:25 pm