A two-week truce between the US and Iran has led to an explosion in cryptocurrency. Bitcoin (BTC), which is currently testing the $72,000 level of price, has been followed by other assets. Shiba Inu is experiencing an upswing, with a rally of 4.6% over the past 24 hours, 3.5% last week and 15.1% for the month prior. according to CoinGecko’s SHIB data. We’ll discuss whether the US-Iran peace ceasefire will again push Shiba (SHIB), the Shiba Inu breed, above $0.00001 once more.
Is it possible to delete a Shiba Inu from the US-Iran War ceasefire?
It seems that the ceasefire has increased investors’ appetite for risk. Shiba Inu, being a memecoin carries a higher risk than most other assets. SHIB’s price could continue to rise if investors increase their exposure to risk.
Bitcoin (BTC), on the other hand, is now approaching its resistance. Multiple instances have seen the crypto’s price rejected between $72,000 and $73,000. One more rejection might lead to market consolidation or a correction. Shiba Inu’s (SHIB), should Bitcoin (BTC), stagnate, could also suffer the same fate. SHIB might not be able to break through $0.00001, unless BTC surpasses its resistance level.
A rate cut is unlikely to occur after the Federal Reserve’s meeting of April. Investors often take less risk when rates are higher, as borrowing is more challenging. Shiba Inu’s (SHIB), if the interest rate remains high for an extended period, could see a consolidation in price.
It is possible that the ceasefire of two weeks between Iran and the US could fall apart and lead to a resurgence in the conflict. A market correction could occur in such a situation. Shiba Inu could be severely affected by such conditions, preventing any chance of reaching $0.00001.
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CoinCodex analysts are also quite bearish Shiba Inu – Shiba Inu. SHIB is expected to drop in the next few months to $0.000005020 by June 10 2026.
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Source: watcher.guru
