The cryptocurrency market seems to be returning with full force as Bitcoin (BTC) and Ethereum (ETH) rally 8.4% and 5.5%, respectively, in the weekly charts. On the other hand, Shiba Inu (SHIB) has seen no changes in the last week but has rallied 12.9% in the 14-day charts and 0.4% in the daily charts.
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The latest market rebound is likely due to BTC reclaiming the $67,000 level. BTC began to rally after the assassination attempt on Donald Trump. The chances of Trump winning the US Presidential race have greatly increased after the attempt at his life. Trump is an avid cryptocurrency supporter and people expect lenient crypto rules if he wins the elections.
Can Shiba Inu hit $0.000025 this week?
According to the researchers at CoinCodex, SHIB will witness a breakout rally this week. The platform anticipates SHIB to hit $0.00004001 on July 26, 2024. Hitting $0.00004001 from current price levels would lead to a rally of about 123%. CoinCodex does not expect SHIB’s price to hold at $0.00004001, predicting a correction to around current levels soon after.
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Changelly also predicts Shiba Inu to rally over the next few days. According to the platform, SHIB will hit $0.00003916 on July 26, 2024, a similar forecast to CoinCodex’s. Like CoinCodex, Changelly also expects SHIB to go through a price correction after July 26.
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There is a possibility that an Ethereum ETF will make a debut sometime this month. If an ETH ETF is launched, we may witness a sudden market-wide rally, similar to the BTC ETF launch in January. In such a scenario, SHIB could potentially go higher than predicted.