Shiba Inu (SHIB) is enjoying another bullish outbreak. The asset has rallied 8.7% in the last 24 hours and 14.8% in the 14-day charts. The asset’s price has also risen 204.7% since December 2023. Despite the rally, SHIB’s price has dipped 6.5% in the weekly charts and 0.5% over the previous month.

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Why Is The Memecoin Rallying?

Shiba Inu’s (SHIB) latest rally comes amid Bitcoin (BTC) reclaiming the $100,000 mark. BTC’s latest resurgence has triggered another market-wide rally.

SHIB’s rally could also be due to US President-elect Donald Trump’s inauguration inching closer. Many anticipate an extended bull run under Trump’s leadership due to his pro-crypto stance. Trump has already named a new SEC chair and a White House crypto czar. Both developments could lead to SHIB and other assets hitting new all-time highs over the next few months.

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Shiba Inu’s Price For December 15, 2024

According to CoinCodex, SHIB will witness a big rally over the next few days. The platform anticipates the asset to trade at $0.00006088 on Dec. 15, 2024. Hitting $0.00006088 from current price levels will entail a rally of about 107.5%.

CoinCodex does not expect SHIB’s price to hold above $0.00006. The platform anticipates a correction back to around current levels by Dec. 26, 2024.

Changelly predicts SHIB will rally over the next few days but presents a more conservative outlook. The platform anticipates SHIB to trade at $0.0000325 on Dec. 15, 2024. Hitting $0.0000325 from current price levels will entail a rally of about 10.77%.

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Like CoinCodex, Changelly also anticipates SHIB will face a correction by the end of the month. The platform predicts SHIB will trade at $0.0000269 on Dec. 31, 2024.