Shiba Inu Bulls May Emerge with Market Rebound, Clarity Act, Rate Cut
Shiba Inu (SHIB) has been struggling to gain momentum over the past year and a half, despite reaching an all-time high of $0.000032 in December 2024.
The cryptocurrency market as a whole has experienced a downward trajectory, but there are three potential events that could turn SHIB bullish.
Firstly, a general market rebound is needed for SHIB to rally.
According to VanEck, Bitcoin (BTC) may be nearing the end of its correction phase, which could lead to a bullish phase for BTC and subsequently for SHIB as well.
The CLARITY Act's passage into law is another crucial event that could boost investor confidence in SHIB.
Once the legislation aims to bring more regulatory clarity and investor protection for the cryptocurrency market, investors may feel safer putting their capital in crypto, potentially leading to increased inflows for SHIB.
The third event that could help SHIB gain momentum is an interest rate cut by the Federal Reserve.