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Sam Cooling
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Sam Cooling
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Trump’s crypto policy is lifting markets this week, and Shiba Inu is joining the rally.
With Bitcoin reaching a new all-time high and meme coins surging across the board, let’s take a closer look at Shiba Inu to see how SHIB’s price is shaping up on the charts.
After months of waiting, the crypto market erupted into a full-blown bull trend after the election of Donald Trump last week, and with supercharged price action dominating major tokens like DOGE following the announcement of the Department of Government Efficiency, all eyes are on high-cap meme coins.
SHIB holders are anticipating mega returns on the market this bull run, after efforts by developers like Shytoshi to deliver major upgrades last year via the Shibarium layer-2.
But with Trump in office, and the success of the DOGE initiative, Shytoshi is now aiming his sights higher, with a proposal to the US Government to launch S.H.I.B – a Strategic Hub for Innovation and Blockchain (otherwise known as a Silicon Valley for Crypto).
While this would have once seemed a pipedream, in 2024, it isn’t an entirely unrealistic prospect, and the news is fuelling SHIB price growth.
SHIB Price Analysis: Shiba Inu Crypto is Climbing – Will SHIB Hit a New All-Time High?
As Shiba Inu consolidates big weekly gains, SHIB is currently trading at a market price of $0.0000264 (representing a 24-hour change of -0.11%).
Consolidation comes as the dust settles over an explosive weekend and strong weekly market open, which so far saw the SHIB price hammer up from the moving average support in a dramatic +50% pump across 4 days.
The move was fueled by a boost from the 20DMA (standing at $0.00001975) after the key moving average formed a golden cross with the 200DMA on November 9.
At press time, it appears SHIB bulls are consolidating the newfound price level above support at $0.000025, while $0.000030 remains the current upside target for traders.
Yet, consolidation here could be a multi-day event, as substantial overheating on the RSI indicator is screaming overbought at a reading of 75—although in bull market conditions, the RSI can often stay overextended longer than a bear trader can stay liquid.
With support at $0.000025 and targeting at $0.000030, SHIB price currently has a risk: reward ratio of 1.92.
This represents a bullish entry, yet with upside gains on the short-time frame limited to a meager +12.5% move; unsurprisingly, smart money investors divert their attention to promising young projects like new prediction markets.
Is Freedum Fighters Prediction Market Going to Skyrocket After Polymarket Trump Election Success?
While the US election brought Polymarkets into the spotlight, the question is now whether Polymarket’s competitor, FreeDum Fighters, offered even more accurate predictions and far more lucrative opportunities.
Freedum Fighters is a PolitiFi token with a difference. Through its $DUM token, the crypto project hosts a high-octane predictions market that is already supercharging in volumes amid Trump’s victory. Presently, over $489,000 has been raised.
Different from Polymarket, the platform offered a “game-like” experience in which Trump has his character (MAGATRON) and Harris (Kamacop 9000).
These characters were created using AI, battling for supremacy in the political arena.
Everyone who supported Trump could stake DUM at the MAGATRON pool, while Harris fans staked at the Kamacop 9000 pool.
Rewards fluctuated depending on who held the lead at any given time. If Trump led, for example, the annual yield fell, and vice versa.
Still, when the winner was announced, DUM stakers vouching for Trump earned a 273% APY. The Harris pool distributed a 725% APY.
Comparing the two, FreeDum Fighters gave Trump a 66% chance to win (and he did), higher than Polymarket’s chance of 58% on November 5 – making Freedum Fighters a far more accurate prediction market.
For this reason, analysts say FreeDum Fighters was far more accurate. Unlike Polymarket, undecided voters could stake in both pools, allowing them to diversify their risks and earn rewards.
The election is over, but DUM is here and will look to dominate the political space. DUM will list on a top DEX at the end of the presale, offering investors an opportunity to ride the uptrend.
At the same time, the team plans to engage the community more and distribute more rewards.
In late October, the team launched the “Gleam” giveaway worth $1,000 for new users who complete simple tasks on X.
Five winners will be selected, and each will receive $200. There are even more rewards planned for the future, explaining investors’ confidence in FreeDum Fighters.
Visit Freedum Fighters Here to Learn More
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
