Shiba Inu (SHIB) last traded above $0.000025 in December of last year. SHIB price has faced a substantial dip over the course of this year. Despite SHIB’s downward trajectory since December 2024, the asset seems to be making a slow comeback. The cryptocurrency market seems to be entering another bullish phase as we near the fourth quarter of this year. Let’s discuss if the current bullish reversal can propel SHIB to the $0.000025 mark once again.
Will Shiba Inu Rally To A Yearly High Soon?
Shiba Inu (SHIB) is one of the most popular cryptocurrencies. The asset’s incredible performance during the 2021 bull run turned many early investors into multi-millionaires. However, the asset has succumbed to bearish forces over the last few years. SHIB’s price is down by 84.5% from its all-time high of $0.00008616.
The crypto market seems to be turning bullish once again, following the 25 basis point interest rate cut from the Federal Reserve. This marks the first interest rate reduction so far in 2025. Rate cuts often lead to risky assets gaining momentum as borrowing becomes easier. Shiba Inu (SHIB) and other memecoins could gain heavily from the rate cut. Moreover, market participants anticipate the Federal Reserve to announce further rate cuts over the next few months. Additional rate cuts could lead to a big boost to SHIB’s price.
Also Read: Shiba Inu Whale Mystery: 1 Trillion SHIB Moved Overnight
There are also a host of crypto-based ETFs anticipated to see the light of day sometime this year. Crypto ETF inflows have played a substantial role in the current market cycle. If more crypto-based ETFs enter the market, we may see a surge in institutional money entering the crypto space. Such a development could lead to Shiba Inu (SHIB) gaining significant traction. The popular memecoin could breach the $0.000025 mark if the crypto market maintains its bullish outlook.
Credit: Source link
