TL:DR;

• Shiba Inu is among the top three best-performing assets in the cryptocurrency industry today, surging by over 25% to a multi-month peak.
• Here are some of the possible reasons behind this massive rally.

Shiba Inu on the Run

Donald Trump’s victory in the 2024 US presidential elections impacted all financial markets, but the ever-volatile crypto industry is at the forefront of gains. This is particularly true this weekend since all other markets are closed, but crypto is open for trading.

After the initial days of Bitcoin-only gains, the altcoins caught up in a spectacular fashion. Amid speculations about a potential meme coin supercycle, assets from that niche have taken the main stage today. Their leader, Dogecoin, jumped by 20% to a three-year high today and surpassed Ripple (XRP) as the 7th-largest digital asset.

The second-largest, Shiba Inu, has performed even more impressively over the past day. SHIB has soared by 25.5% and briefly exceeded $0.000027 earlier today for the first time since early June. On a weekly scale, the meme coin has risen by roughly 45%, and its market cap is well above $14 billion now.

Although SHIB is still down by 70% from its all-time high registered in late 2021, many optimistic traders have begun suggesting that the asset has the legs to break that peak during this bull cycle.

Well it turns out the old dogs still have some legs. The OGs leading the pack, money will inevitably flow down. $DOGE